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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 $15,000.00 a year for
(Complex present value) How much do you have to deposit today so that beginning 11 years from now you can withdraw $15,000.00 a year for the next 4 4 years (periods 11 through 14) plus an additional amount of $30,000.00 in that last year (period 14)? Assume an interest rate of 11 percent.
a. What is the value of the $15,000.00 withdrawals in years 11 through 14 at the end of year 10 if the annual interest rate is 11 percent?
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