Question: Use the present value formula to determine the amount to be investednow, or the present value needed. The desired accumulated amount is $70,000 after 11

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

The desired accumulated amount is $70,000 after 11 years invested in an account with 5.7% interest compounded monthly.

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

.

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