Question: Use the present value formula to determine the amount to be invested now, or the present value needed. The desired accumulated amount is $50,000 after

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

The desired accumulated amount is $50,000 after 14 years invested in an account with 7% interest compounded annually

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

Round to the nearest cent

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