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Culver Corporation wants to withdraw $125,900 (including principal) from an investment fund at the end of each year for 9 years. What should be the required initial investment at the beginning of the first year if the fund earns 11%?

Culver Corporation wants to withdraw $125,900 (including principal) from an investment fund at the end of each

year for 9 years. What should be the required initial investment at the beginning of the first year if the fund earns 11%?

 
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