How much would you need to deposit in one lump sum today

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Reference no: EM131339077

Rita plans to save $1,200, $1,500, and $2,200 a year over the next three years, respectively. How much would you need to deposit in one lump sum today to have the same amount as Rita three years from now if you both earn 5 percent, compounded annually?

Reference no: EM131339077

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