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Suppose the investor wants to withdraw 50,000 at the end of five years and withdraw 60,000 at the end of six years, leaving a zero
Suppose the investor wants to withdraw 50,000 at the end of five years and withdraw 60,000 at the end of six years, leaving a zero balance in the account after the last withdrawal. If the investor can earn 5% on his balances, how much must he deposit today to satisfy his withdrawals needs?
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