You are considering to deposit $1200 into a 8.9% savings account every year over the next 13 years. Alternatively, you can just deposit one larger sum of money in the account today, and no additional deposits in the coming years. How much would the have to put in the account today to reach the same sum of money after 13 years?

(Round your answer to the nearest dollar)

Answer rating: 100% (QA)

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