Question: (Complex present value) How much do you have to deposit today so that beginning 15 years from now you can withdraw $11,000 a year for
(Complex present value) How much do you have to deposit today so that beginning 15 years from now you can withdraw $11,000 a year for the next 4 years (periods 15 through 18) plus an additional amount of $22,000 in that last year (period 18)? Assume an interest rate of 7 percent a. What is the value of the $11,000 withdrawals in years 15 through 18 at the end of year 14 if the annual interest rate is 7 percent? $ (Round to the nearest cent) b. What is the present value today of the 4-year $11,000 annuity at the end of year 14 (found in part a) if the annual interest rate is 7 percent? S (Round to the nearest cent.) c. What is the present value of the amount of S22,000 withdrawal in year 18 if the annual discount rate is 7 percent? (Round to the nearest cent.) d. How much do you have to deposit today so that beginning 15 years from now you can withdraw $11,000 a year for the next 4 years (periods 15 through 18) plus an additional amount of $22,000 in that last year (period 18)? (Round to the nearest cent) Enter your answer in each of the answer boxes 9462678
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