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Your parents want to create a fund today that will enable them to withdraw $25,000 per year for eight years, with the first withdrawal to

Your parents want to create a fund today that will enable them to withdraw $25,000 per year for eight years, with the first withdrawal to take place 5 years from today. If the fund is earning (8%,1), how much must your parents invest today.

Keep two decimals in your answer.

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