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Chris Jones wishes to have $200,000 in a retirement fund 30years from now. He can create the retirement fund by making asingle lump-sum deposit today. Use next table tosolve the following problems.

1. If he can earn 8 percent on his investments, how much mustChris deposit today to create the retirement fund? Round PV-factorto three decimal places. Round your answer to the nearestcent.
   Calculate your answer based on the PV-factor.

   $  

   
   Calculate your answer based on the financial calculator.

   $  

2. 
   
3. If he can earn only 6 percent on his investments? RoundPV-factor to three decimal places. Round your answer to the nearestcent.
   Calculate your answer based on the PV-factor.

   $  

   
   Calculate your answer based on the financial calculator.

   $  

4. 
   
5. If upon retirement in 30 years Chris plans to invest the$200,000 in a fund that earns 6%, what is the maximum annualwithdrawal he can make over the following 20 years? Round theanswer to the nearest cent. Round PVA-factor to three decimalplaces.
   Calculate your answer based on the PVA-factor.

   $  

   
   Calculate your answer based on the financial calculator.

   $  

6. 
   
7. How much would Chris need to have on deposit at retirement toannually withdraw $35,000 over the 20 years if the retirement fundearns 6%? Round the answer to the nearest cent. Round PVA-factor tothree decimal places.
   Calculate your answer based on the PVA-factor.

   $  

   
   Calculate your answer based on the financial calculator.

   $  

8. 
   
9. To achieve his annual withdrawal goal of $35,000 calculated inpart c, how much more than the amount calculatedin part a must Chris deposit today in aninvestment earning 6% annual interest? Round PVA-factor to threedecimal places. Round your answer to the nearest cent. If an amountis zero, enter "0".

   $