You and your sister are planning a large anniversary party $3$ years from today for your parents' $50$th wedding anniversary. You have estimated that you will need $$6,500$ for this party. You can earn $1\mathrm{.}5$ percent compounded annually on your savings. How much would you and your sister have to deposit today in one lump sum to pay for the entire party?

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Okay here are the steps to solve this problem You need 6500 for the part... View the full answer