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How much did professor weiss deposit on january

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Question - Weiss is preparing for his retirement and deposited a lump sum into an account on January 1,2005, that will earn 6% interest compounded annually. Weiss plans to withdraw S15,000 each year for 15 years (15 withdrawals) to pay for room and board at his Home. He will make the first withdrawal on January 1,2017. How much did Professor Weiss deposit on January I, 2005? At least one annuity table must be used to obtain credit. Round to the nearest dollar.

Reference no: EM132193253

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