Find the lump sum
Find the lump sum deposited today that will yield the same total amount as payments of $18,000 at the end of each year for 12 years, at an interest rate of 9% compounded annually. The lump sum is $_______
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Determine the lump sum deposited today that will yield the same total amount as payments of $18,000 at the end of each year for 12 years, at an interest rate of 9% compounded annually. The lump sum is $_______
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