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Sagot :
Based on the amounts to be withdrawn over the years and the interest rate, the amount deposited now is $12,977.
How much is deposited now?
This can be found as:
= (2,000 x Present value of annuity interest factor, 8.5%, 5 years) + (3,000 x Present value of annuity interest factor, 8.5%, 8 years) - (P/A, 8.5%, 5 years)
= (2,000 x 3.9406) + (3,000 x (5.6392 - 3.94064))
= $12,977
The cashflow diagram is attached.
Find out more on cashflow diagrams at https://brainly.com/question/23841852.
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