Question: How much do you need to deposit in your saving account in today's money, which earns 10% compound interest, to be able to collect $8,574.35

How much do you need to deposit in your saving account

How much do you need to deposit in your saving account in today's money, which earns 10% compound interest, to be able to collect $8,574.35 in 8 years? Solve this problem using the mathematical method showing all steps. Then solve the problem using Excel present value (PV) calculations (show the changes in saving over all 8 years, take a snap shot of the excel sheet and paste in your MS Word answer document)

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