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How much do you have to deposit today so that beginning 11 years from now you can withdraw $15000 a year for the next 7
How much do you have to deposit today so that beginning 11 years from now you can withdraw $15000 a year for the next 7 years (periods 11 through 17) plus an additional amount of $30000 in the last year (period 17)? Assume an interest rate of 7 percent.
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