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would like the answer to part (b) please! thank you Exercise 6-08 (Part Level Submission) John Weatherspoon, a super salesman contemplating retirement on his fifty-fifth
would like the answer to part (b) please! thank you
Exercise 6-08 (Part Level Submission) John Weatherspoon, a super salesman contemplating retirement on his fifty-fifth birthday, decides to create a fund on an 11% basis that will enable him to withdraw $20,680 per year on June 30, beginning in 2024 and continuing through 2027. To develop this fund, John intends to make equal contributions on June 30 of each of the years 2020-2023. (a) Your answer is correct. Click here to view factor tables How much must the balance of the fund equal on June 30, 2023, in order for John to satisfy his objective? (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to 0 decimal places, e.g. 458,581.) Balance of the fund equal on June 30, 2023 64,159 (b) Click here to view factor tables What are each of John's contributions to the fund? (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to 0 decimal places, e.g. 458,581.) John's contributions to the fund $ LINK TO TEXT LINK TO VIDEOStep by Step Solution
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