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Connor Ward wishes to have $ 7 0 0 , 0 0 0 in a retirement fund 3 0 years from now. He can create
Connor Ward wishes to have $ in a retirement fund years from now. He can create the retirement fund by making a single lumpsum deposit today. Use next table to solve the following problems.
If he can earn percent on his investments, how much must Connor deposit today to create the retirement fund? Round PVfactor to three decimal places. Round your answer to the nearest cent.
Calculate your answer based on the PVfactor.
$
Calculate your answer based on the financial calculator.
$
If he can earn only percent on his investments? Round PVfactor to three decimal places. Round your answer to the nearest cent.
Calculate your answer based on the PVfactor.
$
Calculate your answer based on the financial calculator.
$
If upon retirement in years, Connor plans to invest the $ in a fund that earns percent, what is the maximum annual withdrawal he can make over the following years? Round the answer to the nearest cent. Round PVAfactor to three decimal places.
Calculate your answer based on the PVAfactor.
$
Calculate your answer based on the financial calculator.
$
How much would Connor need to have on deposit at retirement to annually withdraw $ over the years if the retirement fund earns percent? Round the answer to the nearest cent. Round PVAfactor to three decimal places.
Calculate your answer based on the PVAfactor.
$
Calculate your answer based on the financial calculator.
$
To achieve his annual withdrawal goal of $ calculated in part c how much more than the amount calculated in part a must Connor deposit today in an investment earning percent annual interest? Assume that Connor starts withdrawing funds only after his retirement. Round PVAfactor to three decimal places. Round your answer to the nearest cent. If an amount is zero, enter
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