Al Miler, owner of Al's Garage, estimates that he will need $29,000 for new equipment in 15
years. Al decided that he would put aside the money now so that in 15 years the $29,000 will be available. His bank offers him 10 percent interest compounded semiannually. (Use the tables in the handbook) Al must invest today:
A. $6,710.60
B. $6,942.60
C. $6,701.60
D. $125,335.10
E. None of these
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