Question: What sum deposited today at 7% compounded annually for 12 years will provide the same amount as $2100 deposited at the end of each year
What sum deposited today at 7% compounded annually for 12 years will provide the same amount as $2100 deposited at the end of each year for 12 years at 6% compounded annually? What sum would have to be deposited today at 7% interest compounded annually? (round to the nearest cent).
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