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How much must be deposited today into the following account in order to have $ 30,000 in 7 years for a down payment on a

How much must be deposited today into the following account in order to have $ 30,000 in 7 years for a down payment on a house? Assume no additional deposits are made. An account with monthly compounding and an APR of 5% $____ should be deposited today. (Do not round until the final answer. Then round to the nearest cent as needed.)

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