Question: What sum deposited today at 5% compounded annually for 8 years will provide the same amount as $2400 deposited at the end of each year

What sum deposited today at 5% compounded annually for 8 years

What sum deposited today at 5% compounded annually for 8 years will provide the same amount as $2400 deposited at the end of each year for 8 years at 8% compounded annually? What sum would have to be deposited today at 5% interest compounded annually? (Round to the nearest cent.)

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