Scott is saving for a down payment to buy a house. The

Last updated: 7/14/2022

Scott is saving for a down payment to buy a house. The account earns 7.7% Interest compounded semi-annually, and he wants to have $10,000 in 5 years. What must his principal be? Round your answer to the nearest cent and do not include the dollar sign. Do not round at any other point in the solving process; only round your answer.