Question: Complete the following using the present value formula or financial calculator. (Do not round intermediate calculations. Round the Periodic rate to the nearest tenth percent.

Complete the following using the present value formula or financial calculator. (Do not round intermediate calculations. Round the "Periodic rate" to the nearest tenth percent. Round your final answer to the nearest cent.)

Amount desired at end of period	Length of time	Rate	Compounded	Period used	Periodic rate	PV of amount desired at end of period
$6300	7 years	4%	Semiannually

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