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Joe Bologna plans to buy a small business in six years for $16,860. In order to have adequate funds, Joe wants to make a deposit

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Joe Bologna plans to buy a small business in six years for $16,860. In order to have adequate funds, Joe wants to make a deposit to his money fund today. Assume Joe will be able to earn an investment of 5 50%, compounded annually. How much will he need to deposit today to achieve his goal? (Round to the nearest dollar). $12,055 None of the provided answers is correct $12,228 $11,138 $14,243

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