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What the amount of money to invest today

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Reference no: EM133042150

Question - You estimate that it will take five years to complete your college education. Your parents want to invest enough money today at an interest rate of 8% compounded annually to allow you to withdraw $23,000 at the end of each year for the next five years, with nothing left at the end. What the amount of money to invest today?

Reference no: EM133042150

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