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Paul White is considering an investment that pays 6.5 percent, compounded annually. How much will he have to invest today so that the investment

Paul White is considering an investment that pays 6.5 percent, compounded annually. How much will he have to invest today so that the investment will be worth $29,000 in six years? (Do not round intermediate calculations. Round final answer to 2 decimal places, e.g. 2,515.25.)

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