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Suppose you need $1,000 ten years from now to settle your university education fees. If the interest rate is 5.5%, how much should you deposit
Suppose you need $1,000 ten years from now to settle your university education fees. If the interest rate is 5.5%, how much should you deposit today in the bank? *
a) $585.43
b) $614.70
c) $645.44
d) $677.71
e) None of the above
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