Question
You will need to withdraw the following amounts of money in the next several years: Beginning of year 1 (or today): $6,000 Beginning of years
You will need to withdraw the following amounts of money in the next several years:
Beginning of year 1 (or today): $6,000 Beginning of years 2~4: $10,000 Beginning of the following year: $13,000
These amounts of money will be withdrawn from your checking account that pays you a 4.6% interest rate every year. How much should your parents deposit into your account today, so that it's just enough for you to make the required money withdrawals?
(Increase decimal places for any intermediate calculations, from the default 2 to, for example, 6 or even higher. The more the better! Only round your final answer to TWO decimal places: for example, 1,000.23. Do NOT use "$" in your answer.)
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