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Find the present value (the amount that should be invested now to accumulate the following amount) if the money is compounded as indicated. $11,711.83 at

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Find the present value (the amount that should be invested now to accumulate the following amount) if the money is compounded as indicated. $11,711.83 at 7.8% compounded annually for 3 years The present value is $ (Do not round until the final answer. Then round to the nearest cent as needed.)

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