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QUESTION

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...

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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