Janet Woo decided to retire to Florida in 7 years. What amount should Janet invest today so she can withdraw $52,000 at the end of each year for 20 years after she retires? Assume Janet can invest money at 7% compounded annually. (Use the Table 13.2 and Table 12.3.) (Do not round intermediate calculations. Round your answer to the nearest cent.)

present value

TABLE 13-2 Present value of an annuity of $1 Period 2% 3% 4% 5% 6% 7% 8% 9% 10% 11% 12% 13% 1 09804 0.9709 0.8850 2 3 0.9009 1.7125 2.4437 3.1024 3.6959 4 6 1.6681 23612 29745 35172 3.9975 4.4226 4.7988 51317 5.4262 5.6860 7 9 10 11 12 13 1.9416 19135 28839 28286 3.8077 37171 47134 4,5797 5.6014 5.4172 6.4720 6.2303 7.3255 7.0197 8.1622 7.7861 8.9826 8.5302 9.7868 9.2526 10.5753 9.9540 11.3483 10.6350 12.1062 112961 12 8492 11.9379 13.5777 125611 142918 13.1661 14.9920 137535 15.6784 143238 16.3514 14.8775 19.5234 17:4131 22.3964 19 6004 27 3554 23.1148 31.4236 25.7298 0.9615 1.8861 2.7751 3.6299 4.4518 5.2421 6.0021 6.7327 7.4353 8.1109 8.7605 9.3851 99856 105631 11.1184 116523 12.1657 12 6593 13.1339 13.5903 15.6221 17.2920 19.7928 21.4822 0.9524 1.8594 27232 3.5459 43295 5.0757 5.7864 6.4632 7.1078 77212 8.3064 8.8632 9.3936 9.8986 10.3796 10.8378 11.2741 11.6896 12.0850 12.4622 140939 15.3724 17.1591 18.2559 0.9434 0.9346 1.8334 1.8080 2.6730 26243 34651 3.3872 4.2124 4.1002 4.9173 4.7665 5.5824 53893 6 2098 5.9713 6.8017 65152 7.3601 70236 7.8869 7.4987 8,3838 79427 8.8527 8.3576 92950 87455 9.7122 9.1079 10.1059 9.4466 10.4773 9.7632 108276 10.0591 11.1581 103356 11.4699 10.5940 12.7834 11.6536 13 7648 124090 150463 133317 15.7619 13.8007 0.9259 1.7833 2.5771 3,3121 3.9927 4,6229 5.2064 5.7466 6.2469 67101 7.1390 75361 7.9038 8.2442 8.5595 8.8514 9.1216 9.3719 9.6036 9.8181 10.6748 11.2578 11.9246 12 2335 0.9174 09091 1.7591 1.7355 2531324869 3.2297 3.1699 3.8897 3.7908 44859 4.3553 50330 48684 55348 53349 59952 5.7590 64177 6.1446 68057 64951 7.1807 6.8137 7.48697 1034 7.7862 7.3667 8.0607 76061 8.31267.8237 8.5436 80216 8.7556 8.2014 8.9501 8.3549 9.1285 8.5136 9.8226 9.0770 102737 9.4269 107574 9.7790 109517 99148 42305 4.7122 5.1461 5.5370 5.8892 62065 6.4924 6.7499 6.9819 7. 1909 7.3792 7.5488 7.7016 7.8393 0.8929 1.6901 2.4018 3.0373 3.6048 4 1114 45638 4.9676 53282 5.6502 5.9377 6.1944 6.4235 6.6282 68109 69740 7.1196 7.2497 7.3658 7.4694 7.8431 B.0552 8.2438 8.3045 14 15 16 17 18 19 59176 6.1218 6:3025 6.4624 6.6039 6.7291 6.8399 6.9380 7.0248 7.3300 7.4957 7.6344 7.6752 20 25 30 40 50 7.9633 8.4217 8.6938 8.9511 90417 Period 1% 2% 3% 4% 6% 7% 9% 9615 9434 2 3 8900 4 5 6 7 9346 8734 8163 7629 7130 6663 6227 5820 5439 503 4751 1440 8 9 10 9901 9803 9706 9610 9515 9420 9327 9235 9143 9053 8963 8874 8787 8700 8613 8528 8444 8360 8277 8195 8114 8034 11 12 13 14 15 16 17 18 19 20 21 2394 9852 9707 9563 9422 9283 9145 9010 8877 8746 8617 8489 8364 8240 B119 7999 7880 7764 7649 7536 7425 7315 7207 7100 6995 6892 5790 6690 E91 6494 5398 5939 5513 9804 9612 9423 9238 9057 8880 8706 8535 8368 8203 8043 7885 7730 7579 7430 7284 .7142 17002 6864 6730 5598 5468 6342 6217 6095 5976 5859 5744 5631 5521 5000 4520 9700 9426 9151 8885 8626 8375 8131 7894 7664 7441 7224 7014 6810 6611 6419 6232 6050 5874 5703 5537 5375 5219 5067 4919 4776 4637 4502 4371 4243 4120 3554 3066 5% 9524 9070 3638 8227 7835 7462 7107 6768 6446 6139 5847 5568 5303 5051 4810 4581 4363 4155 3957 3769 3589 3418 3256 3101 2953 2812 2678 2551 2429 2314 1813 TA20 9246 8890 8548 8219 7903 7599 7307 7026 6756 6496 6246 6006 5775 5553 5339 5134 4936 4746 4564 4388 4220 4057 3901 3751 3607 3468 3335 3207 3083 2534 2083 8396 7921 7473 7050 6651 6274 5919 5584 5268 4970 4688 4423 4173 3936 3714 3503 3305 3118 2942 2775 2518 2470 2330 2198 2074 1956 1846 4150 3878 3624 3387 3166 2959 2765 2584 8% 9259 8573 7938 7350 6806 5202 5835 5403 5002 4632 4289 3971 3677 3405 3152 2919 2703 2502 2312 2145 1987 1839 1703 1577 1460 1352 1252 1159 1073 0994 0676 0450 10% 9174 9091 9417 8254 7722 7513 704 5830 5499 6209 5963 5645 5470 5132 5019 4665 4604 4241 4224 3855 3875 3505 3555 3186 3262 2897 2992 2620 2745 2519 2176 2311 1978 2120 1799 19.45 1635 1784 1486 1637 1351 1502 1228 1378 1264 1015 1160 0923 1064 0839 0976 0763 6895 0693 0822 0630 0754 0573 0490 0356 0318 0221 22 23 24 25 26 27 28 29 20 .7954 7876 7798 7720 7606 7568 7493 .7419 7059 6717 2415 2257 2109 1971 1842 1722 1609 1504 1406 1314 0937 0660 35 40 130: 0972