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The International Monetary Fund is trying to raise $1,700 billion in 7 years for new funds to lend to developing countries. At 12% Interest compounded

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The International Monetary Fund is trying to raise $1,700 billion in 7 years for new funds to lend to developing countries. At 12% Interest compounded quarterly, how much must it invest today to reach $1.700 billion in 7 years? (Do not round intermediate calculations. Enter your answer in billions of dollar rounded to 2 decimal places.) Present Value bilion

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