Find the present value of the given future payment at the specified interest rate. 1 $4000 due in two years at 8% compounded daily The present value is approximately SL (Round to the nearest cent as needed.) A trust fund for a 12-year-old child is being set up by a single payment so that at age 21 the child will receive $23,000. Find how much the payment is if an interest rate of 6% compounded semiannually is assumed. The payment is $ (Do not round until the final answer. Then round to the nearest cent as needed.)