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Problem $01\mathrm{.}034-$ Simple and compound interest

Durco Automotive needs a $$2\mathrm{.}000$ milion balance in its contingency fund $3$ years from now. The chief financial officer $($CFO$)$ wants to know how much to deposit now into Durco's high$-$yield investment account.

Problem $01\mathrm{.}034.$b $-$ Simple and compound interest

Determine the amount if it grows at a rate of $9\mathrm{.}00\%$ peryear using compound interest. $($Round the final answer to three decimal places.$)$

The amount if it grows at a rate of $9\mathrm{.}00\%$ per year using compound interest is $