Question
Jack is a super salesman contemplating retirement on his fity-fifth birthday, decides to create a fund on an 8% basis that will enable him to
Jack is a super salesman contemplating retirement on his fity-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, Jack, intends to make equal contrubutions on June 30 of each of the years 2020-2023
What are each of Jack's contributions to the fund?(round factor values to 5 decimal places, e.g. 1.25124 and final answer to 0 decimcal places e.g. 458,581)
Jack's Contributions to the fund: $___________
Please explain each step I have sought assistance several times but it has been wrong.
The answer IS NOT 80,782 that was my calculation and it was wrong.
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