Question
Answered

you have just received an endowment and placed this money in a savings

account at an annual rate of 9.56 percent. you are going to withdraw the following cash flows for the next five years:
end of year
1. $3494
2. $5862
3. $5865
4. $1039
5. 11977
how much is the endowment that you received?

round the answer to two decimal points and show work (formula)



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