14 q

(Present value of complex cash flows) How much do you have to deposit today so that beginning 11 years from now you can withdraw $9,000 a year for the next 6 years (periods 11 through 16) plus an additional amount of $18,000 in the last yoar (period 16)? Assume an interest rate of 6 percent: The amount of money you have to deposit today is s (Round to the nearest cent.)