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Chris Weatherspoon, a super salesman contemplating retirement on his fifty-fifth birthday, decides to create a fund on an 12% basis that will enable him to
Chris Weatherspoon, a super salesman contemplating retirement on his fifty-fifth birthday, decides to create a fund on an 12% basis that will enable him to withdraw $15,910 per year on June 30 , beginning in 2029 and continuing through 2032 . To develop this fund, Chris intends to make equal contributions on June 30 of each of the years 2025-2028. (a) Click here to view factor tables. How much must the balance of the fund equal on June 30,2028 , in order for Chris 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, 2028 $
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