Question: Do not do any interim rounding, state your answer to 2 decimal places, do not label your answer ($, %, etc). Tensing Palmo expects to

Do not do any interim rounding, state your answer to 2

Do not do any interim rounding, state your answer to 2 decimal places, do not label your answer ($, %, etc). Tensing Palmo expects to receive $12,650 on his birthday 7 years from now. He knows he could earn 5.05% on a 7-year investment. The present value of this money is

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