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 $9,000

(Present value of complex cash flows) How much do you have to deposit today so that beginning 11 years from now you can withdraw $9,000 a year for the next 4

years (periods 11 through 14) plus an additional amount of $18,000 in the last year (period 14)? Assume an interest rate of 11 percent.

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