(Present value of complex cash flows) How much do you have to deposit today so that beginning 11 years from now you can withdraw $13,000 a year for the next 8 years (periods 11 through 18) plus an additional amount of $26,000 in the last year (period 18)? Assume an interest rate of 8 percent. The amount of money you have to deposit today is $ (Round to the nearest cent.)

Financial And Managerial Accounting
15th Edition
ISBN:9781337902663
Author:WARREN, Carl S.
Publisher:WARREN, Carl S.
Chapter26: Capital Investment Analysis
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Please help me with this question thanks sir /mam

(Present value of complex cash flows) How much do you have to deposit today so that
beginning 11 years from now you can withdraw $13,000 a year for the next 8 years (periods
11 through 18) plus an additional amount of $26,000 in the last year (period 18)? Assume an
interest rate of 8 percent.
The amount of money you have to deposit today is $
(Round to the nearest cent.)
Transcribed Image Text:(Present value of complex cash flows) How much do you have to deposit today so that beginning 11 years from now you can withdraw $13,000 a year for the next 8 years (periods 11 through 18) plus an additional amount of $26,000 in the last year (period 18)? Assume an interest rate of 8 percent. The amount of money you have to deposit today is $ (Round to the nearest cent.)
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