tony ring wants to attend northeast college. he will need $50,000 6 years from today. assume tony’s bank pays 6% interest compounded semiannually. what must tony deposit today so he will have $50,000 in 6 years? (use the table provided.) (do not round intermediate calculations. round your answer to the nearest dollar amount.): Amount to be deposited: ??

College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter9: Sequences, Probability And Counting Theory
Section9.4: Series And Their Notations
Problem 56SE: To get the best loan rates available, the Riches want to save enough money to place 20% down on a...
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tony ring wants to attend northeast college. he will need $50,000 6 years from today. assume tony’s bank pays 6% interest compounded semiannually. what must tony deposit today so he will have $50,000 in 6 years? (use the table provided.) (do not round intermediate calculations. round your answer to the nearest dollar amount.):

Amount to be deposited: ??

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