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Rita promises to give her 12–year–old daughter $12,000 when she turns 18. how much does she need to put in the bank now if the interest rate is 12 percent per year?

Rita promises to give her 12–year–old daughter $12,000 when she turns 18. how much does she need to put in the bank now if the interest rate is 12 percent per year?
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rita promises to give her 12–year–old daughter $12,000 when she turns 18. how much does she need to put in the bank now if the interest rate is 12 percent per year?

User SecureFish
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1 Answer

5 votes
$6079.58 is how much she'd have to put in now.
User Rsaw
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7.6k points
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