Answer:
$269,725.58
Explanation:
The computation of the invested now amount i.e present value is shown below:
As we know that
Future value = Present value × (1 + interest rate)^number of years
where,
Future value is $350,000
Interest rate = 4.35% ÷ 12 months = 0.3625%
Number of years = 6 × 12 months = 72 months
So, the present value is
$350,000 = Present value × (1 + 0.3625%)^72
$350,000 = Present value × 1.2976151473
So, the present value is $269,725.58
