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Carol wants to invest money today in a 9% certificate of deposit (savings account) that compounds interest annually. Carol's investment goal is to have a
Carol wants to invest money today in a 9% certificate of deposit (savings account) that compounds interest annually. Carol's investment goal is to have a $10,000 balance in this investment five years from today. How much must Carol deposit today to accomplish her goal? (Round your answer to the nearest dollar amount. If needed, use appropriate factor(s) from present value or future value tables in the downloadable file attached to this exam.) O $6,499 0 $9,176 0 $5,500 O $5,960
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