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You can eam 0.03% compounded monthly on a savings account at your bank. If you want to have $1,000 in five years, what amount do

  1. You can eam 0.03% compounded monthly on a savings account at your bank. If you want to have $1,000 in five years, what amount do you need to deposit today in the savings account? Show all your work and all your calculations. Begin with the general formula.

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