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How much money should be deposited totay in an acceunt that earns 8.5% compounded monthly so that it will accumulate to $10.000 in itree years?

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How much money should be deposited totay in an acceunt that earns 8.5% compounded monthly so that it will accumulate to $10.000 in itree years? Click the icon to view some finance formulas: The amount of money that should be deposited is : Formulas (Round up to the nearest cent.) In the provided focmulas, A is the balance in the account affer tyears, P ia the princlpal investment, r is the arnuad interest rate in decimal form n is the number of corrpounding periods per year, and y is the imestmenfs effective anmual yeid in decimat form. A=P(1+nf)nP=(1+nr)nAA=PenY=(1+nr)n1

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