Question
you have just received an endowment and placed this money in a saving account at an annual rate of 15.96 percent. You are gong to
you have just received an endowment and placed this money in a saving account at an annual rate of 15.96 percent. You are gong to withdraw the following cash flows for the next five years.
end of year:
- $9,630
- $8,521
- $7,656
- $3,520
- $4,614
How much is the endowment that you received?
Round the answer to two decimal places.
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Exchange Rates and International Finance
Authors: Laurence Copeland
6th edition
273786040, 978-0273786047
