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f 2. You are planning to send your child to a summer camp in 12 months. The camp will cost you $2,000 at that time.

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2. You are planning to send your child to a summer camp in 12 months. The camp will cost you $2,000 at that time. You have decided to invest a lump sum of money now that will grow to $2,000 by the time it is needed. Assuming the money grows at a nominal annual interest rate of 5% per year compounded monthly, how much money should you set aside now to have the funds available when needed

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