Henry Quincy wants to withdraw $30,000 each year for 15 years from a fund that earns 12% interest. How much must he invest today if the first withdrawal is at year-end? How much must he invest today if the first withdrawal takes place immediately?

A. First withdrawal at year-end B. First withdrawal immediately

Pearl Alvarez is investing $385,400 in a fund that earns 11% interest compounded annually. What equal amounts can Pearl withdraw at the end of each of the next 17 years?

C. Yearly withdrawals