Mathematics, 24.03.2021 23:10, 562204

Sam Smith promised his nephew Joey that he would give him $7,700 five years from today for graduating high school. Assume money is worth 8% interest compounded semiannually. What is the present value of this $7,700? Round your answer to the nearest cent.

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Sam Smith promised his nephew Joey that he would give him $7,700 five years from today for graduatin...