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OpenStudy (anonymous):
Hal Thomas wants to establish a savings fund from which a community organization could draw $800 a year for 20 years. If the account earns 3 percent, what amount would he have to deposit now to achieve this goal? My calculator came up with $12,259.0393 but the quizlet answer shows $11,902. What am I doing wrong? PMT=800 N=20 I/Y= 3 FV= 0 CPT PV=
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