Question: Use the present value formula to determine the amount to be invested now, or the present value needed. The desired accumulated amount is $30,000 after

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

The desired accumulated amount is

$30,000

after

12

years invested in an account with

6.2%

interest compounded

monthly.

Question content area bottom

Part 1

The amount to be invested now, or the present value needed, is

$enter your response here.

(Round to the nearest cent as needed.)

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