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Leon Quincy wants to withdraw $32,700 each year for 8 years from a fund that earns 15% interest. Click here to view factor tables How
Leon Quincy wants to withdraw $32,700 each year for 8 years from a fund that earns 15% interest. Click here to view factor tables 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 at year-end $
First withdrawal immediately $
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