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Your older sister deposited $5,000 two years ago at 8 percent interest for seven years. You would like to have just as much money at
Your older sister deposited $5,000 two years ago at 8 percent interest for seven years. You would like to have just as much money at the end of the next five years as your sister. Unfortunately, you can only earn 6 percent interest. How much more money must you deposit today than your sister if you are to have the same amount at the end of five years?
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