Solve the problem. Round to the nearest cent as needed.Cheraw Auto Repair believes that it will need new equipment in 10 years. The equipment will cost $26,000. What lump sum should be invested today at 8% compounded semiannually, to yield $26,000?
A. $17,637.61
B. $11,866.06
C. $17,462.98
D. $21,097.18
Answer: B
Mathematics
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