Contemplating retirement an individual wants to create a fund on an 5% basis allowing $24,000. annual withdraws for 20 years. How much must the balance of the fund equal to allow the $ 24,000. equal annual withdraws beginning one year hence? Following are appropriate factors from tables: Table % / n Present Value of annuity due $1 Present Value of ordinary annuity of $1 Present value of $1 Future Value of ordinary annuity of $1 5%/20 13.08532 12.46221 .37689 33.06595

Contemplating retirement an individual wants to create a fund on an 5% basis allowing $24,000. annual withdraws for 20 years. How much must the balance of the fund equal to allow the $ 24,000. equal annual withdraws beginning one year hence? Following are appropriate factors from tables: Table % / n Present Value of annuity due $1 Present Value of ordinary annuity of $1 Present value of $1 Future Value of ordinary annuity of $1 5%/20 13.08532 12.46221 .37689 33.06595

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

ChapterM: Time Value Of Money Module

Section: Chapter Questions

Problem 10E: Amount of an Annuity John Goodheart wishes to provide for 6 annual withdrawals of 3,000 each...

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QUESTION 44

Table

% / n

Present Value of annuity due $1

Present Value of ordinary annuity of $1

Present value of $1

Future Value of ordinary annuity of $1

5%/20

13.08532

12.46221

.37689

33.06595

		$316,127.54
		$320,975.78
		$299,093.04
		$314,047.68

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