Use the present value formula to determne the amt to be invested now, or the present value needed The desired accumulated amt is 80,000 after 13 years investedin an account with 4.7% interest compounded monthly./ The amt to be invested now, or the present value needed is___________ ​(Round to the nearest cent as​ needed.)

College Algebra
7th Edition
ISBN:9781305115545
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter4: Exponential And Logarithmic Functions
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Use the present value formula to determne the amt to be invested now, or the present value needed

The desired accumulated amt is 80,000 after 13 years investedin an account with 4.7% interest compounded monthly./

The amt to be invested now, or the present value needed is___________

​(Round to the nearest cent as​ needed.)
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