Find the amount that should be set aside today to yield

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Reference no: EM13285465

Find the amount that should be set aside today to yield the desired future amount

Future amount needed: $14,000

Interest rate: 4%

Compounding period: quarterly

Investment time: 3 years

Present value of $1.00 at 4% compounded 12 times = 0.62460

Reference no: EM13285465

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