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Juan and Rachel Burpo plan to buy a time-share in five years for $16,860. In order to have adequate funds to do so, the Burpos
Juan and Rachel Burpo plan to buy a time-share in five years for $16,860. In order to have adequate funds to do so, the Burpos want to make a deposit to their money market fund today. Assume that they will be able to earn an investment rate of 4.75%, compounded annually. How much will Juan and Rachel need to deposit today to achieve their goal? (Round off to the nearest dollar.) O $13,369 none of these O $10,885 O $14,243 O $12,74
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