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You plan to go to Asia to visit friends in three years. The trip is expected to cost a total of $10,000 at that
You plan to go to Asia to visit friends in three years. The trip is expected to cost a total of $10,000 at that time. Your parents have deposited $5,000 for you in a Certificate of Deposit paying 6% interest annually, maturing three years from now. Uncle Lee has agreed to pay for all remaining expenses. If you are going to put Uncle Lee's gift in an investment earning 8% over the next three years, how much must he deposit today, so you can visit your friends three venni fppl today? $3,211 53.358 O $3,497 $3,616
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