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3. How much needs to be invested today in order to produce proceeds of $1,307,800 in five and a half years at a 5% annually

3. How much needs to be invested today in order to produce proceeds of $1,307,800 in five and a half years at a 5% annually compounded rate?

What about proceeds of $1,000,000?

4. How much needs to be invested today in order to produce proceeds of $1 million in five and a half years at a 6% annually compounded rate?

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