Amount desired at end of period: $6,500

Length of time: 9 years

Rate: 6%

Compounded: semiannually

Period used:

Rate used:

PV factor used:

PV of amount desired at the end of period:

Complete the following using present value. (Use the Table provided.) (Do not round intermediate calculations. Round the "Rate used" to the nearest tenth percent. Round the "PV factor" to 4 decimal places and final answer to the nearest cent.)