Question: Use the present value formula to determine the amount to be invested now, or the present value needed. The desired accumulated amount is $80,000 after

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

The desired accumulated amount is $80,000 after 10 years invested in an account with 2.9% interest compounded monthly.

The desired accumulated amount is $130,000 after 8 years invested in an account with 7% interest compounded quarterly.

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