Question: (Present value of complex cash flows) How much do you have to deposit today so that beginning 11 years from now you can withdraw $12,000

(Present value of complex cash flows) How much do you have

(Present value of complex cash flows) How much do you have to deposit today so that beginning 11 years from now you can withdraw $12,000 a year for the next 6 years (periods 11 through 16) plus an additional amount of $24,000 in the last year (period 16)? Assume an interest rate of 7 percent. The amount of money you have to deposit today is $ (Round to the nearest cent.) (Present value of complex cash flows) How much do you have to deposit today so that beginning 11 years from now you can withdraw $12,000 a year for the next 6 years (periods 11 through 16) plus an additional amount of $24,000 in the last year (period 16)? Assume an interest rate of 7 percent. The amount of money you have to deposit today is $ (Round to the nearest cent.)

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