Present Value of an Annuity John Joshua wants to make 5 equal annual withdrawals of...
50.1K
Verified Solution
Link Copied!
Question
Accounting
Present Value of an Annuity John Joshua wants to make 5 equal annual withdrawals of $20,000 from a fund that will earn interest at 12% compounded annually. Required: How much would John have to invest on January 1, 2019, if he makes the first withdrawal on: (Click here to access the PV and FV tables to use with this problem.) Round your answers to two decimal places. 1. January 1, 2020 72,095.52 2. January 1, 2019 3. January 1, 2023 $
John Joshua wants to make 5 equal annual withdrawals of $20,000 from a fund that will earn interest at 12% compounded annually. Required: How much would John have to invest on January 1,2019 , if he makes the first withdrawal on: (Click here to access the PV and FV tables to use with this problem.) Round your answers to two decimal places. 1. January 1,2020 2. January 1,2019 3. January 1, 2023
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
