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Use the present value formula to determine the amount to be invested now, or the present value needed. The desired accumulated amount is $110, 000

Use the present value formula to determine the amount to be invested now, or the present value needed.

The desired accumulated amount is

$110, 000

after

6 years invested in an account with

7% interest compounded

quarterlyquarterly.

The amount to be invested now, or the present value needed, is

$nothing.

(Round to the nearest cent as needed.)

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