Find the present value of the following future amount. $2000 at 7% compounded semiannually for 20 years
The present value is $______.
(Round to the nearest cent as needed.)
2000 = A ( 1 + .07/2)^(20*2)
2000 = A ( 1.035)^(40)
2000 / ( 1.035)^(40) = A ≈ $505.14
+394 
