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What lump sum should be deposited in an account that will earn at an annual rate of 12% compounded quarterly, to grow to 1, 000,000

What lump sum should be deposited in an account that will earn at an annual rate of 12% compounded quarterly, to grow to 1, 000,000 for retirement in 5 year?

Group of answer choices

P533,763.75

P568,591.75

P545,617.75

P553,675.75

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