$\frac{0}{0\mathrm{.}65}$

Leon, a super salesman contemplating retirement on his fifty$-$fifth birthday, decides to create a fund on a $10\%$ basis that will enable him to withdraw $$64,000$ per year on June $30,$ beginning in $2029$ and continuing through $2033.$ To develop this fund, Leon intends to make equal contributions on June $30$ of each of the years $2025-2028.$

Click here to view factor tables

$($a$)$

Your answer is incorrect.

How much must the balance of the fund equal on June $30,2029,$ in order for Leon to satisfy his objective? $($Round factor values to $5$ decimal places, e$.$g$.1\mathrm{.}25124$ and final answer to $2$ decimal places, e$.$g$.4,585\mathrm{.}81.)$

Balance of the fund equal on June $30,2029$

eTextbook and Media

Assistance Used

Last saved $17$ hours ago.

Attempts: $3$ of $4$ used

Saved work will be auto$-$submitted on the due date. Auto$-$

submission can take up to $10$ minutes.$\frac{0}{0\mathrm{.}65}$

Leon, a super salesman contemplating retirement on his fifty$-$fifth birthday, decides to create a fund on a $10\%$ basis that will enable him to withdraw $$64,000$ per year on June $30,$ beginning in $2029$ and continuing through $2033.$ To develop this fund, Leon intends to make equal contributions on June $30$ of each of the years $2025-2028.$

Click here to view factor tables

$($a$)$

Your answer is incorrect.

How much must the balance of the fund equal on June $30,2029,$ in order for Leon to satisfy his objective? $($Round factor values to $5$ decimal places, e$.$g$.1\mathrm{.}25124$ and final answer to $2$ decimal places, e$.$g$.4,585\mathrm{.}81.)$

Balance of the fund equal on June $30,2029$

eTextbook and Media

Assistance Used

Last saved $17$ hours ago.

Attempts: $3$ of $4$ used

Saved work will be auto$-$submitted on the due date. Auto$-$

submission can take up to $10$ minutes.