Question: #14 (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

(Present value of complex cash flows) How much do you have to deposit today so that beginning 11 years from now you can withdraw S12,000 a year for the next 7 years (periods 11 through 17) plus an additional amount of $24,000 in the last year (period 1772 Assume an interest rate of 9 percent The amount of money you have to deposit today is $. (Round to the nearest cert.)

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