John Madison needs $339,200 in 10 years. How much must he invest at the end of each year, at 9% interest, to meet his needs? (Round factor values to 5 decimal places, e.g. 1.25124 and final answers to 0 decimal places, e.g. 458,581 Investment Amount ? ---------------------------------------------------------------------------- Steve Fillmores lifelong dream is to own his own fishing boat to use in his retirement. Steve has recently come into an inheritance of $430,800. He estimates that the boat he wants will cost $312,100 when he retires in 6 years How much of his inheritance must he invest at an annual rate of 8% (compounded annually) to buy the boat at retirement? (Round factor values to 5 decimal places, e.g. 1.25124 and final answers to 0 decimal places, e.g. 458,581.)

Investment Amount ? -------------------------------------------------------------------------------

John Freeman is investing $9,861 at the end of each year in a fund that earns 6% interest. In how many years will the fund be at $97,599? (Round answer to 0 decimal places, e.g. 45.) -------------------------------------------------------------------------------- John Quincy wants to withdraw $34,700 each year for 7 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? (Round factor values to 5 decimal places, e.g. 1.25124 and final answers to 0 decimal places, e.g. 458,581.) First withdrawal immediately First withdrawal year end -----------------------------------------------------------------------------------------------------------------------