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David Davis is considering an investment that pays 5.4 percent, compounded annually. How much will he have to invest today so that the imvestment will

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David Davis is considering an investment that pays 5.4 percent, compounded annually. How much will he have to invest today so that the imvestment will be worth $31,000 in six years? (Do not round intermediate calculations. Round final answer to 2 decimal ploces, es. 2.515 .25 \). Amount to be invested today

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