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Andy promises to pay Opie $3,500 when Opie graduates from Meyberry University in 12 years. How much must Andy deposit today to make good on

Andy promises to pay Opie $3,500 when Opie graduates from Meyberry University in 12 years. How much must Andy deposit today to make good on his promise, if he can earn 6% on his investments? (Round to the nearest cent.) Please show work, thank you!

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