Question: (Complex present value) How much do you have to deposit today so that beginning 14 years from now you can withdraw $14,000 a year for

 (Complex present value) How much do you have to deposit today

(Complex present value) How much do you have to deposit today so that beginning 14 years from now you can withdraw $14,000 a year for the next 4 years (periods 14 through 17) plus an additional amount of $28,000 in that last year (period 17)? Assume an interest rate of 8 percent. .. a. What is the value of the $14,000 withdrawals years 14 through 17 at the end of year 13 if the annual interest rate is 8 percent? (Round to the nearest cent.) b. What is the present value today of the 4-year $14,000 annuity at the end of year 13 (found in part a) if the annual interest rate is 8 percent? (Round to the nearest cent.) c. What is the present value of the amount of $28,000 withdrawal in year 17 if the annual discount rate is 8 percent? (Round to the nearest cent.) d. How much do you have to deposit today so that beginning 14 years from now you can withdraw $14,000 a year for the next 4 years (periods 14 through 17) plus an additional amount of $28,000 in that last year (period 17)? (Round to the nearest cent.)

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