Samuel David wants to make 5 equal annual withdrawals of $8,000 from a fund that will earn

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Samuel David wants to make 5 equal annual withdrawals of $8,000 from a fund that will earn interest at 10% compounded annually.

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How much would Samuel have to invest on:
1. January 1, 2019, if the first withdrawal is made on January 1, 2020?
2. January 1, 2019, if the first withdrawal is made on January 1, 2019?

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Intermediate Accounting Reporting and Analysis

ISBN: 978-1337788281

3rd edition

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

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Question Posted: Jul 16, 2019 12:59 PM

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Samuel David wants to make 5 equal annual withdrawals of $8,000 from a fund that will earn

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Intermediate Accounting Reporting and Analysis

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