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How much would he have to invest on december 31

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John rider wants to accumulate 100,000 to be used for his daughters education. He would like to have the amount available on December 31, 2018.Assume the funds will accumulate in a certificate of deposit paying 8%interset compounded annually. If John were to deposit a single amount, how much would he have to invest on December 31,2013?

Reference no: EM13537925

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