​ $6945.30 at 6.3​% compounded annually for 2 years.   The present value is $____.

College Algebra (MindTap Course List)
12th Edition
ISBN:9781305652231
Author:R. David Gustafson, Jeff Hughes
Publisher:R. David Gustafson, Jeff Hughes
Chapter8: Sequences, Series, And Probability
Section8.CR: Chapter Review
Problem 52E: Investment problem If Landon invests 3000 in a 6-year certificate of deposit at the annual rate of...
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Find the present value​ (the amount that should be invested now to accumulate the following​ amount) if the money is compounded as indicated.
$6945.30 at 6.3​% compounded annually for 2 years.
 
The present value is $____.
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