Exercise 6-08 (Part Level Submission) John Weatherspoon, a super salesman contemplating retirement on his fifty-fifth...
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Exercise 6-08 (Part Level Submission) John Weatherspoon, a super salesman contemplating retirement on his fifty-fifth birthday, decides to create a fund on an 11% basis that will enable him to withdraw $20,680 per year on June 30, beginning in 2024 and continuing through 2027. To develop this fund, John intends to make equal contributions on June 30 of each of the years 2020-2023. (a) x Your answer is incorrect. Try again. Click here to view factor tables How much must the balance of the fund equal on June 30, 2023, in order for John to satisfy his objective? (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to O decimal places, e.g. 458,581.) Balance of the fund equal on June 30, 2023 LINK TO TEXT LINK TO VIDEO Attempts: 1 of 5 used SAVE FOR LATER SUBMIT ANSWER (b) The parts of this question must be completed in order. This part will be available when you complete the part above
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