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A bank is offering a certificate of deposit (CD) that pays interest of 6.7% per year, compounded quarterly over a 8-year period. It is your

A bank is offering a certificate of deposit (CD) that pays interest of 6.7% per year, compounded quarterly over a 8-year period. It is your goal to have exactly $80,000 in the account at the end of the investment period. How much must be deposited today to meet the goal?

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