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Present Value of an Annuity John Joshua wants to make 5 equal annual withdrawals of $20,000 from a fund that will earn interest at 12%

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Present Value of an Annuity John Joshua wants to make 5 equal annual withdrawals of $20,000 from a fund that will earn interest at 12% compounded annually Required: How much would John have to invest on January 1, 2016, if he makes the first withdrawal on: (Click here to access the time value of money tables to use with this problem.) Round your answers to two decimal places 1. January 1, 2017 2. January 1, 2016 3. January 1, 2020

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