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When Jack was 4 years old his parents opened a college savings account for him. His parents want the account to reach $12,500 by

When Jack was 4 years old his parents opened a college savings account for him. His parents want the account to reach $12,500 by the time he turns 18. If the account has an interest rate of 6.3% compounded monthly, how much money would they have to initially invest? O $5186.38 $7623.13 O $3522.61

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