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You deposit a lump sum today that in 7 years from now will be worth $13000. If the deposit earns 10% compounded annually. What's the
You deposit a lump sum today that in 7 years from now will be worth $13000. If the deposit earns 10% compounded annually. What's the present value of the investment and the total amount of interest earned? Round your answers to two decimal places.
(a) Present value = $
(b) Total interest earned = $
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