Chris Jones wishes to have $400,000 in a retirement fund 25 years from now. He can create the retirement fund by making a single lump-sum deposit today. Use next table to solve the following problems.

A. If he can earn 7 percent on his investments, how much must Chris deposit today to create the retirement fund? Round PV-factor to three decimal places. Round your answer to the nearest cent.

Calculate your answer based on the PV-factor.

$

Calculate your answer based on the financial calculator.

$

If he can earn only 5 percent on his investments? Round PV-factor to three decimal places. Round your answer to the nearest cent. Calculate your answer based on the PV-factor.

$

Calculate your answer based on the financial calculator.

$

B. If, upon retirement in 25 years, Chris plans to invest the $400,000 in a fund that earns 5 percent, what is the maximum annual withdrawal he can make over the following 20 years? Round the answer to the nearest cent. Round PVA-factor to three decimal places. Calculate your answer based on the PVA-factor.

$

Calculate your answer based on the financial calculator.

$

C. How much would Chris need to have on deposit at retirement to annually withdraw $55,000 over the 20 years if the retirement fund earns 5 percent? Round the answer to the nearest cent. Round PVA-factor to three decimal places. Calculate your answer based on the PVA-factor.

$

Calculate your answer based on the financial calculator.

$

D. To achieve his annual withdrawal goal of $55,000 calculated in part c, how much more than the amount calculated in part a must Chris deposit today in an investment earning 5 percent annual interest? Round PVA-factor to three decimal places. Round your answer to the nearest cent. If an amount is zero, enter "0".

$