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What is the present value

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Question - Steven wants to retire at the end of this year (2020). His life expectancy is 20 years from his retirement. Steven has come to you, his CPA, to learn how much he should deposit on December 31, 2020 to be able to withdraw $62,000 at the end of each year for the next 20 years, assuming the amount on deposit will earn 6% interest annually. What is the Present Value?

Reference no: EM132515164

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