The present value of a sum of money is the amount that must be invested now, at a given rate of interest, to produce the desired sum at a later date….
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The present value of a sum of money is the amount that must be invested now, at a given rate of interest, to produce the desired sum at a later date.
Find the present value of $10,000 if interest is paid at a rate of6%per year, compounded weekly, for 3 years. (Round your answer to the nearest cent.)
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