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Suppose you will need to have $15,000 in the bank three years from today. Your local bank offers a three-year CD that pays 2.5% per

Suppose you will need to have $15,000 in the bank three years from today. Your local bank offers a three-year CD that pays 2.5% per year with annual compounding. How much money do you need to put in the bank today so that you can have $15,000 in three years

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