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Gilda would like to support the education of her favourite grand-nephew, Stephen, who plans to begin university in 4 years. How much will Gilda have

Gilda would like to support the education of her favourite grand-nephew, Stephen, who plans to begin university in 4 years.

How much will Gilda have to invest today, at 6 percent, to be able to give Stephen $6,860 at the end of each year for 4 years?(Round answer to 2 decimal places, e.g. 125.12. Do not round your intermediate calculations.)

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