Question: Use the present value formula to determine the amount to be invested now, or the present value needed. The desired accumulated amount is $70,000

Use the present value formula to determine the amount to be invested

Use the present value formula to determine the amount to be invested now, or the present value needed. The desired accumulated amount is $70,000 after 10 years invested in an account with 6.9% interest compounded monthly. The amount to be invested now, or the present value needed, is $ (Round to the nearest cent as needed.)

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