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If you want to have $16,000 in seven years, how much do you have to...

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Finance

If you want to have $16,000 in seven years, how much do you have to deposit today if your investment earns a rate of 3 percent per annum? Use Exhibit 1B-1. (Round time value factors to 3 decimal places and final answer to 2 decimal places. Omit the "$" sign in your response.) Deposit $

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