Mia Kaminsky Wants to Attend Riverside Community College

Mia Kaminsky wants to attend Riverside Community College. She will need to have $25,000 six years from today. Mia is wondering what she will have to put in the bank today so that she will have $25,000 six years from now. Her bank pays 5% compounded semiannually. Using the tables in the handbook, the amount Mia will have to deposit is:

A) $18,950
B) $33,226
C) $18,590
D) $33,622
E) None of these

Correct Answer:

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