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How much do you have to deposit today so that beginning 11 years from now you can withdraw $7000 a year for the next 4
How much do you have to deposit today so that beginning 11 years from now you can withdraw $7000 a year for the next 4 years (periods 11 through 14 ) plus an additional amount of $14000 in the last year (period 14)? Assume an interest rate of 7 percent. Question content area bottom Part 1 The amount of money you have to deposit today is $ enter your response here. (Round to the nearest cent.)
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