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Money in a savings account at an annual rate

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Reference no: EM131846418

How do you solve this? Can you write the formula for excel also please:

You have just received an endowment and placed this money in a savings account at an annual rate of 10.58 percent. You are going to withdraw the following cash flows for the next five years.

End of year

1.  $7,556

2.  $5,252

3.  $7,243

4.  $2,306

5.  $2,959

How much is the endowment that you received?

Reference no: EM131846418

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