Question: Rochelle Kotter wants to attend a university five years from now. She will need $88,000. Assume Rochelles bank pays 3 percent interest compounded monthly. What

Rochelle Kotter wants to attend a university five years from now. She will need $88,000. Assume Rochelle’s bank pays 3 percent interest compounded monthly. What must Rochelle deposit today to accumulate $88,000 in five years?

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