Solve the problem.Southwest Dry Cleaners believes that it will need new equipment in 9 years. The equipment will cost $26,000. What lump sum should be invested today at 4% compounded semiannually, to yield $26,000?

A. $21,726.77
B. $18,204.14
C. $21,835.40
D. $23,649.29


Answer: B

Mathematics

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A.
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