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PLEASE SHOW DETAILED WORK. Suppose you need $15,000 in 3 years. a) If you can earn 6% annually, how much do you need to invest

image text in transcribedPLEASE SHOW DETAILED WORK.

Suppose you need $15,000 in 3 years. a) If you can earn 6% annually, how much do you need to invest today? b) If you could invest the money at 8%, would you have to invest more or less than at 6%? How much? PV=FV / (1+r)

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