Question: Grupo Rana wants to withdraw $20,000 each year for 10 years from a fund that earns 8% interest. How much must he invest today if

Grupo Rana wants to withdraw $20,000 each year for 10 years from a fund that earns 8% interest. How much must he invest today if the first withdrawal is at year-end? How much must he invest today if the first withdrawal takes place immediately?

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