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Posted on Jun 09, 2024

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 eight

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 eight years (periods 11 through 18) plus an additional amount of $18,000 in the last year (period 18)? Assume an interest rate of 8%. What is the amount of money you would need to deposit today?

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