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Bob and Alice want to remodel their bathroom in 3 years. They estimate the job will cost $ 2 5 , 0 0 0 .

Bob and Alice want to remodel their bathroom in 3 years. They estimate the job will cost
$25,000. How much must they invest now at an annual interest rate of 7% compounded
quarterly to achieve their goal? What if the compounding were continuous?
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