How much should be deposited today if a couple wants to collect $300 at the beginning of each month for the next 14 years if the interest rate is 4%? a)  What type of problem is this?  Select an answer Future Value -Simple Interest Future Value - Compound Interest Future Value - Continuously Compounded Future Value - Ordinary Annuity Future Value - Annuity Due Present Value - Ordinary Annuity Present Value - Annuity Due  b)  How much should they deposit today?   (round to the nearest cent) $

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A:

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