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Newman Quincy wants to withdraw $31,100 each year for 9 years from a fund that earns 3% interest. How much must he invest today if
Newman Quincy wants to withdraw $31,100 each year for 9 years from a fund that earns 3% 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 at year-end
$enter a dollar amount rounded to 0 decimal places
First withdrawal immediately
$enter a dollar amount rounded to 0 decimal places
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