If you invest $1000 at 12% annual interest, show that you will have $1973.82 after 6 years and $2210.68 after 7 years. What initial deposit (accurate to the nearest cent) would lead to precisely $2000 (accurate to the nearest dollar) after 6 years? To answer this question, you will need to try several different initial values, finding successively better estimates of the needed initial deposit; obviously you need to start with a bit more than $1000.
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