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An athlete signs a guaranteed contract with a local sports team that pays him a players bonus of $10,000 in 7 years. How much should
An athlete signs a guaranteed contract with a local sports team that pays him a players bonus of $10,000 in 7 years. How much should the team deposit now if they want to have the $10,000 available 7 years from now? They can earn 6 percent interest compounded annually
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