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Ten years ago, Hailey invested $ 1 , 1 0 0 and locked in a 8 percent annual interest rate for 3 0 years (

Ten years ago, Hailey invested $1,100 and locked in a 8 percent
annual interest rate for 30 years (end 20 years from now). Aidan
can make a 20-year investment today and lock in a 9 percent
interest rate. How much money should he invest now in order to have
the same amount of money in 20 years as Hailey?(Do not round
intermediate calculations and round your final answer to 2 decimal
places.) Present value $

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