explain

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 12 basis that will enable him to withdraw 516,420 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) Click here to view factor tables How much must the balance of the fund equal on June 30, 2023, in order for Join to satisfy his objective? (Round factor values to social places 1.251 and finalanswer to decimal places.. SRSBI) Balance of the fund equal on June 30, 2023 LINK YO VIDEO