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A company wants to deposit a lump sum now that will give the same future value in 20 years as 20 year-end payments of
A company wants to deposit a lump sum now that will give the same future value in 20 years as 20 year-end payments of $1750 invested at 4% compounded annually. What is the amount of the lump sum assuming the same 4% annual compounding? Click here to view page 1 of the present value of an annuity table. Click here to view page 2 of the present value of an annuity table. The lump sum to be deposited is approximately $ (Round to the nearest cent as needed.)
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