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How much money would have to deposit in account today

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Reference no: EM132996067

Problem 1: Miguel Cedeño is considering an investment that pays 7.2% interest compounded annually. How much would he have to invest today if he expects this investment to bring him $ 35,000 in five years?

Problem 2: Elizabeth Terrier wants to accumulate $ 22,000 after 10 years. If the annual compound interest rate paid by your savings account is 8.25%, how much money would you have to deposit in your account today to reach your goal?

Reference no: EM132996067

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