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An investment will pay you $51,000 in 12 years. If the appropriate discount rate is 7.8 percent compounded daily, what is the present value? (Use

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An investment will pay you $51,000 in 12 years. If the appropriate discount rate is 7.8 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.) Present value $ 16,063.77

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