Question: (Present Value of complex cash flow) How much do you gave to deposit today so that behinning 11 years from now you can withdraw $8,000

(Present Value of complex cash flow) How much do you gave to deposit today so that behinning 11 years from now you can withdraw $8,000 a year for the next 5 years (periods 11 through 15) plus an additional amount of $16,000 in the last year (period 15)?

Assume an interest rate of 11%.

The Amount of money you gace to deposit today is $_____. (Round to the nearest cent)

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