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Home > Business & Careers > Finance   »   Present Value

 
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Old Aug 19, 2007, 07:21 PM
txcwgirl23
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Present Value

you are going to withdrawl $5,000 at the end of each year for the next four years from an account that pays interest at a rate of 9% compounded annually. How much must there be in the account today in order for the account to reduce to a balance of zero after the last withdrawl?

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