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How much money should be deposited today into an account that earns 8% compounded monthly...

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Accounting

How much money should be deposited today into an account that earns 8% compounded monthly so that it will accumulate to 10,000 in 3 years?
The amount of money that should be deposited it is: The amount of money that should be deposited it is

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To find out how much money should be deposited today the present value in an account that earns interest compounded monthly we can use the formula for the present value of a future sum PV fracFV1 rnnt Where PV Present Value the amount to    See Answer
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