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Use the present Valua formula to det mine the amount to e invested now, or the present value needed. The desired accumulated amount is $65,000 after 10 years invested in an account with 3% interest compounded semiannua he amount to be invested now, or the present value needed, is $ Round to the nearest cent as needed.)

Use the present Valua formula to det mine the amount to e invested now, or the present value needed. The desired accumulated amount is $65,000 after 10 years invested in an account with 3% interest compounded semiannua he amount to be invested now, or the present value needed, is $ Round to the nearest cent as needed.)

Advanced Engineering Mathematics
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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Use the present value formula to determine the amount to be invested now, or the present value needed. The desired accumulated amount is $65,000 after 10 years invested in an account with 3% interest compounded semiannually. The amount to be invested now, or the present value needed, is $. (Round to the nearest cent as needed.)
Transcribed Image Text:Use the present value formula to determine the amount to be invested now, or the present value needed. The desired accumulated amount is $65,000 after 10 years invested in an account with 3% interest compounded semiannually. The amount to be invested now, or the present value needed, is $. (Round to the nearest cent as needed.)
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