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An investment will pay you $ 3 8 , 0 0 0 in 1 0 years. If the appropriate discount rate is 6 . 5

An investment will pay you $38,000 in 10 years. If the appropriate discount rate is 6.5 percent compounded daily, what is the present value? (Use 365 days a year. Do not round intermediate calculations and round your answer to 2 decimal places, e.g.,32.16.)
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