John Joshua wants to make five equal annual withdrawals of $20,000 from a fund that will earn

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John Joshua wants to make five equal annual withdrawals of $20,000 from a fund that will earn interest at 12% compounded annually.

Required

How much would Joshua have to invest on January 1, 2007 if he makes the first withdrawal on

1. January 1, 2008?

2. January 1, 2007?

3. January 1, 2012?

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Intermediate Accounting

ISBN: 978-0324300987

10th Edition

Authors: Loren A Nikolai, D. Bazley and Jefferson P. Jones

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Question Posted: Mar 10, 2012 06:03 AM

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John Joshua wants to make five equal annual withdrawals of $20,000 from a fund that will earn

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Intermediate Accounting

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