Question: Find the present value for the amount given in the taWhat is the principal that will grow to $5000 in six years, ten months at

Find the present value for the amount given in the taWhat is the principal that will grow to $5000 in six years, ten months at 1.6% compounded annually? The principal is $____ (Round to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)ble. Amount $5211.61 Nominal Rate 8.5% Frequency of Conversion quarterly Time 14 years The present value is $___ (Round to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)

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