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If a bank pays 5% compounded monthly, how much should be deposited now to have $1600 : a) 5 years later Answer = $ .

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If a bank pays 5% compounded monthly, how much should be deposited now to have $1600 : a) 5 years later Answer = $ . b) 6 years later Answer = $ If a bank pays 5% compounded monthly, how much should be deposited now to have $1600 : a) 5 years later Answer = $ . b) 6 years later Answer = $

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