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Karl Yates needs $8,000 to pay for the remodeling work on his house. A contractor agrees to do the work in 8 months. How much

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Karl Yates needs $8,000 to pay for the remodeling work on his house. A contractor agrees to do the work in 8 months. How much should Karl deposit at 6.8% in order to accumulate the $8,000 by that time? . . . Karl should deposit $ (Round to the nearest cent.)

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