Complete the following using the present value formula or financial calculator.

Note: Do not round intermediate calculations. Round your final answer to the nearest cent.

$\backslash$table$[[\backslash$table$[[$Amount$],[$desired at$],[$end of period$]],\backslash$table$[[$Length$],[$of time$]],$Rate,Compounded,$\backslash$table$[[$Period$],[$used$]],\backslash$table$[[$Periodic$],[$rate$]],\backslash$table$[[$PV of amount$],[$desired at$],[$end of period$]]],[$$$20,000,20$ years,$8,\%,$Annually,,,$\%$