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Determine the present value, discounted at 6 percent per year of $20,000 to be received 7 years from today if the interest rate is compounded

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Determine the present value, discounted at 6 percent per year of $20,000 to be received 7 years from today if the interest rate is compounded under either of the following two terms. Round your answers to the nearest cent. a. Semiannually $ b. Quarterly $

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