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Camila plans to go for vacation to Australia in 12 years from now

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Camila plans to go for vacation to Australia in 12 years from now.
She estimates that she will need $16,355 for the trip. How much does she need to place in a saving account today that earns 5.51 percent per year (compounded quarterly) to accumulate this amount?

Round the answer to two decimal places.

 
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