$11$

Complete the following using present value. $($Use the Table $12\mathrm{.}3$ provided.$)$

Note: Do not round intermediate calculations. Round the "Rate used" to the nearest tenth percent. Round the $"$PV factor" to $4$ decimal places and final answer to the nearest cent.

$0\mathrm{.}5$

points

$$

eBook

$\backslash$table$[[\backslash$table$[[$Amount$],[$desired at$],[$end of period$]],\backslash$table$[[$Length$],[$of time$]],$Rate,Compounded,On PV Table $12\mathrm{.}3,$PV factor used,$\backslash$table$[[$PV of amotit$],[$desired at$],[$end of period$]]],[\backslash$table$[[$Period$],[$used$]],$Rate used$],[7,000,8$ years,$\backslash$table$[[6,\%$