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(Complex present value) How much do you have to deposit today so that beginning 11 years from now you can withdraw $13,000 a year
(Complex present value) How much do you have to deposit today so that beginning 11 years from now you can withdraw $13,000 a year for the next 7 years (periods 11 through 17) plus an additional amount of $26,000 in that last year (period 17)? Assume an interest rate of 9 percent a. What is the value of the $13,000 withdrawals in years 11 through 17 at the end of year 10 if the annual interest rate is 9 percent? (Round to the nearest cent.) Incorrect: 0
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