Question: Problem 5-26 Calculating Annuity Present Values [LO 1) Beginning three months from now, you want to be able to withdraw $2,500 each quarter from your

 Problem 5-26 Calculating Annuity Present Values [LO 1) Beginning three months

Problem 5-26 Calculating Annuity Present Values [LO 1) Beginning three months from now, you want to be able to withdraw $2,500 each quarter from your bank account to cover college expenses over the next 4 years. If the account pays 47 percent interest per quarter, how much do you need to have in your bank account today to meet your expense needs over the next 4 years? (Do not round Intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Amount needed

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