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5. You want to have $13,000 in 9 years for a dream vacation. If you can earn an interest rate of 0.4 percent compounded monthly,

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5. You want to have $13,000 in 9 years for a dream vacation. If you can earn an interest rate of 0.4 percent compounded monthly, how much will you have to deposit today? a) $8559.62 b) $8634.71 c) $8447.00 d) $12,541.22 e) $8524.95

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