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Franklin needs to have $1,000 in 8 years. If his investment earns 5 percent compounded quarterly, how much must he invest today? Select one: a.

Franklin needs to have $1,000 in 8 years. If his investment earns 5 percent compounded quarterly, how much must he invest today? Select one: a. $676.84 b. $1,488.13 $671.98 d. $680.58

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