John Joshua wants to make 5 equal annual withdrawals of $20,000 from a fund that will earn
Question:
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:
1. January 1, 2020
2. January 1, 2019
3. January 1, 2023
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1 PV O C p Oni PV O 20000 p On5i12 PV O 20000 3604776 PV O 7209552 2 PV D C p Dni PV ...View the full answer
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Related Book For 
Intermediate Accounting Reporting and Analysis
ISBN: 978-1337788281
3rd edition
Authors: James M. Wahlen, Jefferson P. Jones, Donald Pagach
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