Question

Chris Quincy wants to withdraw $35,600 each year for 9 years from a fund that earns...

Chris Quincy wants to withdraw $35,600 each year for 9 years from a fund that earns 4% interest.

Click here to view factor tables

How much must he invest today if the first withdrawal is at year-end? How much must he invest today if the first withdrawal takes place immediately? (Round factor values to 5 decimal places, e.g. 1.25124 and final answers to 0 decimal places, e.g. 458,581.)

First withdrawal at year-end

 $enter a dollar amount rounded to 0 decimal places

First withdrawal immediately

 $enter a dollar amount rounded to 0 decimal places
Click if you would like to Show Work for this question:
Business   Accounting   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Chris Quincy wants to withdraw $40,000 each year for 7 years from a fund that earns...
Chris Quincy wants to withdraw $40,000 each year for 7 years from a fund that earns 15% interest. How much must he invest today if the first withdrawal is at year-end? How much must he invest today if the first withdrawal takes place immediately? (Round factor values to 5 decimal places, e.g. 1.25124 and final answers to 0 decimal places, e.g. 458,581.)
Leon Quincy wants to withdraw $31,500 each year for 14 years from a fund that earns...
Leon Quincy wants to withdraw $31,500 each year for 14 years from a fund that earns 9% interest. Click here to view factor tables How much must he invest today if the first withdrawal is at year-end? How much must he invest today if the first withdrawal takes place immediately? (Round factor values to 5 decimal places, e.g. 1.25124 and final answers to 0 decimal places, e.g. 458,581.).    A) first withdraws at year end? B) First withdrawal immediately?
John Freeman is investing $8,006 at the end of each year in a fund that earns...
John Freeman is investing $8,006 at the end of each year in a fund that earns 6% interest. Click here to view factor tables In how many years will the fund be at $92,000? (Round answer to 0 decimal places, e.g. 45.) Years Newman Quincy wants to withdraw $30,000 each year for 8 years from a fund that earns 4% interest. Click here to view factor tables How much must he invest today if the first withdrawal is at year-end?...
Henry Quincy wants to withdraw $30,000 each year for 15 years from a fund that earns...
Henry Quincy wants to withdraw $30,000 each year for 15 years from a fund that earns 12% interest. How much must he invest today if the first withdrawal is at year-end? How much must he invest today if the first withdrawal takes place immediately? A. First withdrawal at year-end B. First withdrawal immediately Pearl Alvarez is investing $385,400 in a fund that earns 11% interest compounded annually. What equal amounts can Pearl withdraw at the end of each of the...
Donald Bautista needs $26,000 in 9 years. Click here to view factor tables What amount must...
Donald Bautista needs $26,000 in 9 years. Click here to view factor tables What amount must he invest today if his investment earns 12% compounded annually? What amount must he invest if his investment earns 12% annual interest compounded quarterly? (Round factor values to 5 decimal places, e.g. 1.25124 and final answers to 0 decimal places, e.g. 458,581.) Investment at 12% annual interest $enter a dollar amount rounded to 0 decimal places Investment at 12% annual interest, compounded quarterly $enter...
Stacy Alvarez is investing $381,500 in a fund that earns 11% interest compounded annually. Click here...
Stacy Alvarez is investing $381,500 in a fund that earns 11% interest compounded annually. Click here to view factor tables What equal amounts can Stacy withdraw at the end of each of the next 16 years? (Round factor values to 5 decimal places, e.g. 1.25124 and final answers to 0 decimal places, e.g. 458,581.) Yearly withdrawals $ Chris Inc. will deposit $56,600 in a 11% fund at the end of each year for 7 years beginning December 31, 2020. Click...
Brief Exercise 6-6 Henry Madison needs $270,000 in 10 years. Click here to view factor tables...
Brief Exercise 6-6 Henry Madison needs $270,000 in 10 years. Click here to view factor tables How much must he invest at the end of each year, at 11% interest, to meet his needs? (Round factor values to 5 decimal places, e.g. 1.25124 and final answers to 0 decimal places, e.g. 458,581.) Investment amount
Newman Madison needs $294,200 in 10 years. Click here to view factor tables How much must...
Newman Madison needs $294,200 in 10 years. Click here to view factor tables How much must he invest at the end of each year, at 15% interest, to meet his needs? (Round factor values to 5 decimal places, e.g. 1.25124 and final answers to 0 decimal places, e.g. 458,581.) Investment amount $enter the dollar amount invested rounded to 0 decimal places Sandhill Inc. manufactures cycling equipment. Recently, the vice president of operations of the company has requested construction of a...
Chris Taylor is settling a $19,270 loan due today by making 6 equal annual payments of...
Chris Taylor is settling a $19,270 loan due today by making 6 equal annual payments of $4,424.53. Click here to view factor tables What payments must Chris Taylor make to settle the loan at an interest rate of 10%, but with the 6 payments beginning on the day the loan is signed? (Round factor values to 5 decimal places, e.g. 1.25124 and final answers to 0 decimal places, e.g. 458,581.) Payments $
Using the appropriate interest table, answer each of the following questions. (Each case is independent of...
Using the appropriate interest table, answer each of the following questions. (Each case is independent of the others.) Click here to view factor tables What is the future value of $7,020 at the end of 7 periods at 8% compounded interest? (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to 0 decimal places, e.g. 458,581.) The future value $enter the future value in dollars rounded to 0 decimal places eTextbook and Media Click here to view...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT