Determine the present worth of 5 annual deposits

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Reference no: EM13188778

Determine the present worth of 5 annual deposits of $1,200 at the end of years 1 through 5, followed by 4 equal annual withdrawals of $700nat the end of years 4 through 7. Note that both years 4 and 7 will have a depsoit and a withdrawal. Interest is 5 percent. Solve by hand and by using Microsoft Excel.

Reference no: EM13188778

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