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 $8,000 a

(Present value of complex cash flows)How much do you have to deposit today so that beginning 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 8 percent.

The amount of money you have to deposit today is $ enter your response here. (Round to the nearest cent.)

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