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The International Monetary Fund is trying to raise $850 billion in 5 years for new funds to lend to developing countries. At 8% interest compounded

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The International Monetary Fund is trying to raise $850 billion in 5 years for new funds to lend to developing countries. At 8% interest compounded quarterly, how much must it invest today to reach $850 billion in 5 years? (Do not round intermediate calculations. Enter your answer in billions of dollar rounded to 2 decimal places.) Present Value billion

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