Clementine and Lee expect to deposit the following cash flows at the end of years 1 through 5, $6,000; $5,000; $4,000; $3,000; and $2,000 respectively. Alternatively, they could deposit a single amount today and have the same amount in their account at the end of year 5. How large does the single deposit need to be today if Clementine and Lee can earn 10% p.a. on their account?

Answer rating: 100% (QA)

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