Question: Olivia would like to accumulate ( $ 2 8 0 , 0 0 0 ) for his retirement in 1 1 years.

Olivia would like to accumulate \(\$ 280,000\) for his retirement in 11 years. If he is promised a rate of \(5.10\%\) compounded semi-annually by his local bank, how much should he invest taday?

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