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Stevenwants to retire at the end of this year (2020). His life expectancy is20years from his retirement.Stevenhas come to you, his CPA, to learn how

Stevenwants to retire at the end of this year (2020). His life expectancy is20years from his retirement.Stevenhas come to you, his CPA, to learn how much he should deposit on December 31, 2020 to be able to withdraw $62,000at the end of each year for the next20years, assuming the amount on deposit will earn6% interest annually.

What is the Present Value ?

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