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Suppose your sister wants to save up $2,497 to buy a nice suit and pay for first three months of her rent after she graduates
Suppose your sister wants to save up $2,497 to buy a nice suit and pay for first three months of her rent after she graduates in 4 years, without having to worry about a job. If she finds a business prospect which promises to give her 14% return per year but compounded monthly, how much would she has to deposit today to reach her goal in 4 years? (Round your answer to two decimal points)
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