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How much must be deposited on January

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Reference no: EM132984107

Question - How much must be deposited on January 1, 2020 in a savings account paying 6% annually in order to make annual withdrawals of $51000 at the end of the years 2020 and 2021? The present value of one at 6% for one period is 0.94340.

Reference no: EM132984107

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