How much do you have to deposit today so that exactly 10 years from now you can withdraw $10,000 a year for the next five years?  Assume an interest rate of 6%

Principles of Accounting Volume 2
19th Edition
ISBN:9781947172609
Author:OpenStax
Publisher:OpenStax
Chapter11: Capital Budgeting Decisions
Section: Chapter Questions
Problem 14EA: How much must be invested now to receive $30,000 for 10 years if the first $30.000 is received one...
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How much do you have to deposit today so that exactly 10 years from now you can withdraw $10,000 a year for the next five years?  Assume an interest rate of 6%

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