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Find the present value of $50,000 due in 5 years at the given rate of interest. (Round your answers to the nearest cent.) (a) 3%/year

Find the present value of $50,000 due in 5 years at the given rate of interest. (Round your answers to the nearest cent.)

(a) 3%/year compounded semiannually

(b) 3%/year compounded quarterly

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