Please show detailed workyou just won the lottery you wish, Ask an Expert

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Please show detailed work.

You just won the lottery! You wish to put away enough money so that you can withdraw $8,500 per month for 20 years. You can earn 9.9% rate on any funds you deposit. How much will you have to deposit now to meet your goal? (Note: Withdrawal frequency matches compounding frequency.)

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Financial Management, Finance

Category:- Financial Management
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