The present value of a sum of money is the amount that must be invested now, at a given rate of interest, to produce the

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The present value of a sum of moneyis the amount that must be invested now, at a given rate ofinterest, to produce the desired sum at a later date.Find the present value of $10,000 if interest is paid at a rateof 6% per year, compounded semiannually,for 5 years. (Round your answer up to the nearestcent.)