Answer:
$10,234.31
Explanation:
A suitable financial calculator or spreadsheet can evaluate the future value function for you. It will tell you that $10,234.31 must be deposited today to have $13,000 in three years, when interest is 8% compounded monthly.
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You are solving for P:
13000 = P(1 +0.08/12)^(12×3)
P = 13000/(1 +0.08/12)^36 ≈ 10,234.31