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How much is the endowment that your client received

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Reference no: EM133069806

Problem: Your client just received an endowment and placed this money in a savings account at an annual rate of 7.47 percent. He is going to withdraw the following cash flows for the next five years.

End of year

1. $5,852
2. $6,017
3. $7,517
4. $3,116
5. $2,422

How much is the endowment that your client received? Round the answer to two decimal places.

Reference no: EM133069806

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