You intend to purchase your dream PC upon graduation in two years.It will have a cost of $2,975,including all attachments and sales tax.You just received a $3,000 pre-graduation gift from your rich uncle that you intend to deposit in a money market account that pays 6% interest,compounded monthly.How much of your pre-graduation gift will you need to deposit in order to have $2,975 available for the purchase of the PC upon graduation?
A) $1,275
B) $2,588
C) $2,975
D) $1,567
E) $2,639
Correct Answer:
Verified
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