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Use the following formula of future value for simple interest, to solve for P to determine the present value. Do not round off until the

Use the following formula of future value for simple interest, to solve for P to determine the present value. Do not round off until the final computation. A = P(1plusrt) Determine the present value P that must be invested to have the future value A at simple interest rate r after time t. A = $5000, r = 1.65%, t = 6 months

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