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Determine the present value P you must invest to have the future value A at simple interest rate r after time t. A = $15,000,

Determine the present value P you must invest to have the future value A at simple interest rate r after time t. A = $15,000, r = 5.5%, t = 6 years The present value that must be invested to get $15,000 after 6 years at an interest rate of 5.5% is $ (Round up to the nearest cent.)

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