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How much money should be deposited today in an account that earns 2.5% compounded monthly so that it will accumulate to $12,000 in 2 years?

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How much money should be deposited today in an account that earns 2.5% compounded monthly so that it will accumulate to $12,000 in 2 years? Click the icon to view some finance formulas. The amount of money that should be deposited is $ (Round up to the nearest cent as needed.)

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