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Elenis future plan is to withdraw $4,000 two years from today and the same amount three years after that first withdrawal from her savings account.
Elenis future plan is to withdraw $4,000 two years from today and the same amount three years after that first withdrawal from her savings account. She would like to know what amount should be in the savings account today if the account will be earning 5.9% compounded monthly.
Provide your answer below. In order to be eligible for partial marks, be sure to show your work. Round your answer to 2 decimals.
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