Question: Sam Long anticipates he will need approximately $ 2 2 5 , 0 0 0 in 1 5 years to cover his 3 - year

Sam Long anticipates he will need approximately $225,000 in 15 years to cover his 3-year-old daughters college bills for a 4-year degree. How much would he have to invest today at an interest rate of 8 percent compounded semiannually? (Use the Table provided.)(Do not round intermediate calculations. Round your answer to the nearest cent.)

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