Today you invest a lump sum amount in an equity fund that, Financial Management

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Today you invest a lump sum amount in an equity fund that

Today, you invest a lump sum amount in an equity fund that provides an 9% annual return. You would like to have $12,100 in 6 years to help with a down payment for a home. How much do you need to deposit today to reach your $12,100 goal? Round your answer to the nearest cent. Do not round intermediate calculations.

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