Your math professor has decided to retire and return to his jetsetting life style. He wishes to establish a fund from which he can withdraw $4,000 per month for the next 20 years. If the fund earns 4% per year compounded continuously, how much money does he need now to establish the fund? 48,000 (1 - 2-0.8) e 0.04 48,000 (e0.8 1) 0.04 12.20 (1 - -0.8) e 0.04 48,000 (40.8 + 1) 0.04 12:20 0.04 -(20.8 1)