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Knowledge Check Davis plans to save money to take a two - week cruise on December 3 1 , 2 0 2 8 . On

Knowledge Check
Davis plans to save money to take a two-week cruise on December 31,2028. On January 1,2025, Davis plans to invest money in an investment fund paying 8% interest to accumulate $12,000. How much should Davis deposit today to achieve the desired $12,000?(For calculation purposes, use five decimal places as displayed in the factor table provided. Round your answer to two decimal places (e.g.; 52.75).)
Table 3: Present Value of 1
\table[[(n) Periods,6%,7%,8%,9%,10%,11%
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