Alan Weatherspoon, a super salesman contemplating retirement on his fifty-fifth birthday, decides to create a fund on an 8% basis that will enable him to withdraw $24,390 per year on June 30, beginning in 2024 and continuing through 2027. To develop this fund, Alan intends to make equal contributions on June 30 of each of the years 20202023.

Click here to view factor tables How much must the balance of the fund equal on June 30, 2023, in order for Alan to satisfy his objective? (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to 0 decimal places, e.g. 458,581.)

Balance of the fund equal on June 30, 2023

$

Click here to view factor tables What are each of Alans contributions to the fund? (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to 0 decimal places, e.g. 458,581.)

Alans contributions to the fund

$