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Leon Weatherspoon, a super salesman contemplating retirement on his fifty - fifth birthday, decides to create a fund on an 1 1 % basis that
Leon Weatherspoon, a super salesman contemplating retirement on his fiftyfifth birthday, decides to create a fund on
an basis that will enable him to withdraw $ per year on June beginning in and continuing through
To develop this fund, Leon intends to make equal contributions on June of each of the years
a
Click here to view factor tables.
How much must the balance of the fund equal on June in order for Leon to satisfy his objective? Round factor
values to decimal places, eg and final answer to decimal places, eg
Balance of the fund equal on June $
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