Question: 12.John Guy is saving for a new boat. He needs $60,000. How much money should he put in a savings account that compounds at 8%

12.John Guy is saving for a new boat. He needs $60,000. How much money should he put in a savings account that compounds at 8% to have $60,000? (Round to the nearest dollar). Select one: a. $36,410 b. Unable to determine from data given c. $38,706 d. $39,420.

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