Question: Use the present value formula to determine the amount to be investednow, or the present value needed. The desired accumulated amount is $ 60, 000

Use the present value formula to determine the amount to be investednow, or the present value needed.

The desired accumulated amount is $60, 000

60,000 after 14 years invested in an account with 6.1% interest compounded monthly

The amount to be investednow, or the present valueneeded, is $______

.

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