How much should you deposit in an account earning

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You just inherited $10,000. while you plan to squander some of it away, how much should you deposit in an account earning 5% interest per year if you'd like to have $10,000 in the account in 10 years? The answer in the back of my textbook says the answer is $7835. Could some one show me how they got this?

Reference no: EM13207367

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