Complete the following using the present value formula or financial calculator. Note: Do not round intermediate calculations. Round final answer to the nearest cent. Amount desired at end of period Length of time Rate Compounded Period used Periodic rate $ 19,400 6 years 16 % Quarterly % PV of amount desired at end of period

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A: Amount desired at end of period: $17,600 Length of time: 7 years Rate: 12% Compounded: Quarterly

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