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Jeff's father is planning to open a savings account to pay forJeff's college education. He has found a bank that will pay 8 percent interest

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Jeff's father is planning to open a savings account to pay forJeff's college education. He has found a bank that will pay 8 percent interest compounded daily. How much will he need to deposit initially so that in 8 years the balance will be $28,000? Round your answer to the nearest cent. Answer E Keypad How to enter your answer (opens in new window) Keyboard Shortcuts

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