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Skippy wants to have $ 1 6 , 0 0 0 . 0 0 in 7 years. His bank is offering an account that earns

Skippy wants to have $16,000.00 in 7 years. His bank is offering an account that earns 2% compounded monthly. How much does he need to deposit to reach his goal? Round your final answer up to the nearest cent. Assume no additional deposits or withdrawals are made after the initial deposit.
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