How much money must you put in a savings account, Financial Management

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How much money must you put in a savings account

If you want to have $12,500 in 57 months, how much money must you put in a savings account today? Assume that the savings account pays 4.5% and it is compounded quarterly (round to nearest $1). A) $8,459 B) $10,106 C) $10,387 D) $11,129 (Please show how to answer using a BA II plus calculator)

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Financial Management: How much money must you put in a savings account

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