Question: please answer now- Charles Barkley decides to create a fund bass that will enable him to withdraw 531000 per year on June 30, beginning in
Charles Barkley decides to create a fund bass that will enable him to withdraw 531000 per year on June 30, beginning in 2026 and continuing through 2009. To develop this fund Charles intends to make equal contributions on June 30 of each of the years 2022-2025 Instructions How much must the balance of the fund equal on June 30, 2005, in order for Charles to satisfy his objective? Balance of the fund equal on June 30, 2025 - 5 What is the amount of each of the four contributions that Charles must deposit in the fund to reach the balance found above! Charel's contributions to the fund - 5 Charles Barkley decides to create a fund bass that will enable him to withdraw 531000 per year on June 30, beginning in 2026 and continuing through 2009. To develop this fund Charles intends to make equal contributions on June 30 of each of the years 2022-2025 Instructions How much must the balance of the fund equal on June 30, 2005, in order for Charles to satisfy his objective? Balance of the fund equal on June 30, 2025 - 5 What is the amount of each of the four contributions that Charles must deposit in the fund to reach the balance found above! Charel's contributions to the fund - 5
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
