Question: (Complex present value) How much do you have to deposit today so that beginning 13 years from now you can withdraw $13,000 a year for
(Complex present value) How much do you have to deposit today so that beginning 13 years from now you can withdraw $13,000 a year for the next 3 years (periods 13 through 15) plus an additional amount of $26,000 in that last year (period 15 )? Assume an interest rate of 13 percent. a. What is the value of the $13,000 withdrawals in years 13 through 15 at the end of year 12 if the annual interest rate is 13 percent? (Round to the nearest cent.) b. What is the present value today of the 3 -year $13,000 annuity at the end of year 12 (found in part a) if the annual interest rate is 13 percent? i (Round to the nearest cent) c. What is the present valve of the amount of $26,000 withdrawal in year 15 if the annual discount rate is 13 percent? (Round to the nearest cent) d. How much do you have to deposit today so that beginning 13 years from now you can wathdraw $13,000 a year for the next 3 years (periade 13 through 15 ) plus an additional amount of $26.000 in that last year (period 15)? 1 (Round to the nearest cent)
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