Question: Patch invested $ 1 0 , 0 0 0 into an investment account today. He is planning on investing $ 1 , 7 0 0

Patch invested $

10, 000

into an investment account today. He is planning on investing $

1, 700

on June

30

th and December

31

st each year for the next

10

years. The investment will return

8 %

interest per year. Interest is compounded semi

-

annually. What is the present value of the initial investment plus the additional payments.

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