Your client just received an endowment and placed this money in a savings account at an annual rate of 7.78 percent. He

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answerhappygod
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Your client just received an endowment and placed this money in a savings account at an annual rate of 7.78 percent. He

Post by answerhappygod »

Your client just received an endowment and placed this money ina savings account at an annual rate of 7.78 percent. He is going towithdraw the following cash flows for the next fiveyears.
End of year1. $3,2542. $8,9853. $5,7814. $1,8415. $11,042
How much is the endowment that your client received?
Round the answer to two decimal places.
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