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12q. (Present value of complex cash flows)How much do you have to deposit today so that beginning 11 years from now you can withdraw
$14,000
a year for the next
6
years (periods 11 through
16)
plus an additional amount of
$28,000
in the last year (period
16)?
Assume an interest rate of
11
percent.
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Part 1
The amount of money you have to deposit today is
$enter your response here.
(Round to the nearest cent.)
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