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How much must be deposited on January 1, 2017 in a savings account paying 7%...

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Accounting

How much must be deposited on January 1, 2017 in a savings account paying 7% annually in order to make annual withdrawals of $41000 at the end of the years 2017 and 2018? The present value of one at 7% for one period is 0.93458.

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