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Three years ago, Elizabeth invested $7,410.00. She has earned and will earn compound interest of 3.90 percent per year. In one year from today, Ruth

Three years ago, Elizabeth invested $7,410.00. She has earned and will earn compound interest of 3.90 percent per year. In one year from today, Ruth can make an investment and earn simple interest of 13.46 percent per year. If Ruth wants to have as much in 5 years from today as Elizabeth will have in 5 years from today, then how much should Ruth invest in one year from today?

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