Leon Weatherspoon, a super salesman contemplating retirement on his fifty-fifth birthday, decides to create a fund...
Leon Weatherspoon, a super salesman contemplating retirement on his fifty-fifth birthday, decides to create a fund on an 9% basis that will enable him to withdraw $16,000 per year on June 30, beginning in 2024 and continuing through 2027. To develop this fund, Leon intends to make equal contributions on June 30 of each of the years 2020–2023.
How much the balance of the fund equal on June 30, 2023, in order for Leon to satisfy his objective?
Homework Answers
Answer:
value of fund on June 30 , 2023 = 16000 x PVA (9%,4)
=16000*3.2397
=51,835
Add Answer to:
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Exercise 6-8 Morgan Weatherspoon, a super salesman contemplating retirement on his fifty-fifth birthday, decides to create...
Exercise 6-8
Morgan Weatherspoon, a super salesman contemplating retirement
on his fifty-fifth birthday, decides to create a fund on an 9%
basis that will enable him to withdraw $16,000 per year on June 30,
beginning in 2024 and continuing through 2027. To develop this
fund, Morgan intends to make equal contributions on June 30 of each
of the years 2020–2023.
Click here to view factor tables
How much must the balance of the fund equal on June 30, 2023, in...
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I uppload the second picture by mistake Exercise 6-8 Alan Weatherspoon, a super salesman contemplating retirement...
I
uppload the second picture by mistake
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What would you pay for a $200,000 debenture bond that matures in 15 years and pays...
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1.25124 and final answer to 0 decimal places, e.g.
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Amount to Pay
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458,581.)
Amount to Pay
4%? (Round factor values to 5 decimal...
Exercise 6-8
Morgan Weatherspoon, a super salesman contemplating retirement
on his fifty-fifth birthday, decides to create a fund on an 9%
basis that will enable him to withdraw $16,000 per year on June 30,
beginning in 2024 and continuing through 2027. To develop this
fund, Morgan intends to make equal contributions on June 30 of each
of the years 2020–2023.
Click here to view factor tables
How much must the balance of the fund equal on June 30, 2023, in...
Newman Weatherspoon, a super salesman contemplating retirement on his fifty-fifth birthday, decides to create a fund on an 12% basis that will enable him to withdraw $15,910 per year on June 30, beginning in 2021 and continuing through 2024. To develop this fund, Newman intends to make equal contributions on June 30 of each of the years 2017-2020. Click here to view factor tables How much must the balance of the fund equal on June 30, 2020, in order for...
I
uppload the second picture by mistake
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2%? (Round factor values to 5 decimal places, e.g.
1.25124 and final answer to 0 decimal places, e.g.
458,581.)
Amount to Pay
3%? (Round factor values to 5 decimal places, e.g.
1.25124 and final answer to 0 decimal places, e.g.
458,581.)
Amount to Pay
4%? (Round factor values to 5 decimal...
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