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(Present value of complex cash flows)How much do you have to deposit today so that beginning 11 years from now you can withdraw $7000 a
(Present value of complex cash flows)How much do you have to deposit today so that beginning 11 years from now you can withdraw $7000 a year for the next 8 years (periods 11 through 18) plus an additional amount of $14000 in the last year (period 18)? Assume an interest rate of 7 percent
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