Question
You have just received an endowment and placed this money in a savings account at an annual rate of 9.56 percent. You are going to
You have just received an endowment and placed this money in a savings account at an annual rate of 9.56 percent. You are going to withdraw the following cash flows for the next five years.
End of year
- $3,494
- 5,862
- 5,865
- 1,039
- 11,977
How much is the endowment that you received?
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Finance Applications and Theory
Authors: Marcia Cornett
4th edition
1259691411, 978-1259691416
