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2. Ronald Zoller is planning to retire at the end of the current year. He estimates...

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Accounting

2. Ronald Zoller is planning to retire at the end of the currentyear. He estimates that he will need $18,000 a year for the next 15years to meet his needs. Assuming the appropriate interest rate is$8%, how much should Zoller deposit on December 31 of the currentyear in order to be able to withdraw $18,000 at the end of each ofthe next 15 years.

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4.4 Ratings (787 Votes)
rate of interest 8 at the end of 15 years Ronald Zoller requirement will be 0 means at the end of 15 the year closing balance 0 so at last year15 the year opening balance 18000108 1666667 14th year closing balance 15th year    See Answer
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