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Ricky Bobby wants to buy a new automobile for $32,000 in 4 years. How much money...

Ricky Bobby wants to buy a new automobile for $32,000 in 4 years. How much money must Ricky's original investment be if he makes a single deposit into into an account with monthly compounding and an annual interest rate of 6.70% in order to reach his goal? Round your answer to the nearest cent.

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