How much of initial deposit

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Reference no: EM131979154

You place $2,000 in an account that pays 8% interest compounded continuously. You plan to hold the account exactly 3 years. At the same time, in another account you deposit money that earns 9% compounded semiannually. If the accounts are to have the same amount at the end of the 3 years, how much of an initial deposit do you need to make now in the account that pays 9% interest compounded semiannually?

Reference no: EM131979154

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