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10. [4 points) Assume it is now January 1, 2008 and you are opening a bank account with an 8 percent annual interest rate. How

10. [4 points) Assume it is now January 1, 2008 and you are opening a bank account with an 8 percent annual interest rate. How much must you deposit on January 1, 2008 to have a balance of $1,000 on December 31, 2012

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