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14 Joe Pepto plans to buy a small business in six years for $16,860. In order to have adequate funds to do so, Joe wants

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Joe Pepto plans to buy a small business in six years for $16,860. In order to have adequate funds to do so, Joe wants to make a deposit to his money fund today. Assume Joe will be able to earn an investment of 5.75%, compounded annually. How much will he need to deposit today to achieve his goal? (Round to the nearest dollar) $11,138 $8,885 $14,243 $12,055

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