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Andy promises to pay Opie $ 5,000 when Opie graduates from Mayberry University in 15 years. How much must Andy deposit today to make good

Andy promises to pay Opie $5,000 when Opie graduates from Mayberry University in 15 years. How much must Andy deposit today to make good on hispromise, if he can earn 3% on his investments?

How much must Andy deposit today to make good on his promise?

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