## Math Problem Statement

Kinko store needs to buy new copying machines in 6 years for a total cost of $14000. How much should be deposited now in order to have enough money to pay for the machines? Suppose the interest rate is 10% compounded semi-annually.

## Solution

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## Math Problem Analysis

### Mathematical Concepts

Compound Interest

Present Value

Exponential Growth

### Formulas

PV = FV / (1 + r/n)^(nt)

Future Value (FV)

Present Value (PV)

Compound Interest Formula

### Theorems

Compound Interest Theorem

### Suitable Grade Level

Grades 10-12

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