Find the equivalent present worth of the cash receipts in the accompanying diagram, where i = 10% compounded annually. In other words, how much do you have to deposit now (with the second deposit in the amount of $500 at the end of the first year) so that you will be able to withdraw $300 at the end of the second year through the fourth year, and $800 at the end of the fifth year if the bank pays you 10% annual interest on your balance?

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$800 $300 $300 $300 1 3 5 Years $500 4,