Karl Yates needs $7000 to pay for the remodeling work on his house. A contractor agrees to do the work in 2 months. What is the present value of $7,000 at 5.9% simple interest in order to accumulate...

Karl Yates needs $7000 to pay for the remodeling work on his house. A contractor agrees to do the work in 2 months. What is the present value of

$7,000 at 5.9% simple interest in order to accumulate the $7,000 in 2 months?

The present value is