Question: 3. After some long-range planning, Saint Leo University has decided to build a new recreation facility in five years. They have received estimates that the

3. After some long-range planning, Saint Leo University has decided to build a new recreation facility in five years. They have received estimates that the facility will cost $14.5 million dollars at that time. They have an investment opportunity that will return 8%. How much do they need to invest today to have $14.5 million at that time? Document how you arrived at your calculations.

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