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 $5,000 per month for the next 30 years. If the fund earns 8% per year compounded continuously, how much money does he need now to establish the fund? Exact value = 60000 0.08 (2.4-1) dollars x Rounded to the nearest cent = 7517382.29 x dollars