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3. Assume that you want to deposit savings that will be worth $10,000 in 5 years, so insert 10000 as the Future Amount and 5

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3. Assume that you want to deposit savings that will be worth $10,000 in 5 years, so insert 10000 as the Future Amount and 5 as the Number of Periods in the following table. Assume an annual interest rate of 3.00% (insert 3 for Interest Rate per Period). The following table will determine the Present Value, which represents the amount of savings you need today that would accumulate to be worth $10,000 in 5 years. If you input the numbers correctly, the Present Value is estimated in the table to be $8,626. Now revise the input to reflect your own desired savings amount in 5 years so that you can estimate how much you need now to achieve your savings goal in 5 years. Present Value of a Future Amount Future Amount Number of Periods Interest Rate per Period Present Value

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