$17,415.08
1) Since in this question we have:
Present Value: ?
Future Value: $20000
rate: 7% compounded every two months
Period: 2 years
2) Let's plug that information in the formula for Compounded Interest, considering that 7% every two months is 0.07 for 6 months.
3) So rounding off to the nearest tenth the present value to be invested is $17,415.08