You want to be able to withdraw $5000 from an account at the end of each year for the next 12 years. How much money should you invest now into an account earning 5.5% interest per year, compounded annually, in order to fund the desired withdrawals? Assume the account is empty after the last withdrawal is made.
Give the answer to 2 decimal places, and do not use the $ sign in the answer box.
The amount to invest now is Blank 1. Calculate the answer by read surrounding text. dollars.
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