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If you want to have $12,500 in 57 months, how much money must you put in a savings account today? Assume that the savings account

If you want to have $12,500 in 57 months, how much money must you put in a savings account today? Assume that the savings account pays 4.5% and it is compounded quarterly (rounded to nearest $1)

1. $8,459

2. $10,106

3. $10,387

4. $11,129

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