Stephen Michaels wants to know how much he must deposit today at 12% interest to...
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Accounting
Stephen Michaels wants to know how much he must deposit today at 12% interest to provide three equal annual withdrawals of $10,000, beginning one year from now. This is an example of the present value of
A: an annuity due.
B: a single sum.
C: a deferred annuity.
D: an ordinary annuity.
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