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Please solve all parts of the question and show all work. (Present value of complex cash flows) How much do you have to deposit today
Please solve all parts of the question and show all work.
(Present value of complex cash flows) How much do you have to deposit today so that beginning 11 years from now you can withdraw $6,000 a year for the next 4 years (periods 11 through 14) plus an additional amount of $12,000 in the last year (period 14)? Assume an interest rate of 12 percent. The amount of money you have to deposit today is $ (Round to the nearest cent.)Step by Step Solution
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