Find how much must balance of the fund equal on june

Assignment Help Financial Accounting

Reference no: EM132768824

Alan Weatherspoon, a super salesman contemplating retirement on his fifty-fifth birthday, decides to create a fund on an 11% basis that will enable him to withdraw $14,380 per year on June 30, beginning in 2024 and continuing through 2027. To develop this fund, Alan intends to make equal contributions on June 30 of each of the years 2020-2023.

Problem 1: How much must the balance of the fund equal on June 30, 2023, in order for Alan to satisfy his objective? (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to 0 decimal places, e.g. 458,581.)

Reference no: EM132768824

Questions Cloud

Reducing communication barriers : Identify what techniques you can implement to improve the likelihood that your communications will be received and understood as you intended.

Please refer to the weaver corporation financial statements : Please refer to the Weaver Corporation financial statements for the following assignment. Calculate the following financial ratios for year 2013: (1) Current ratio, (2) Quick ratio, (3) Debt-to-total assets ratio, (4) Earnings-per-share (EPS), and (5..

Give the effect of the errors in the working capital : The company leased a portion of its building for Php 480,000. Give the effect of the errors in the 2017 working capital

What is peer learning : What is peer learning? Describe how peer learning could be used in classroom training and in computer or Internet-based training.

Find how much must balance of the fund equal on june : How much must the balance of the fund equal on June 30, 2023, in order for Alan to satisfy his objective? (Round factor values to 5 decimal places)

What are the factors that may facilitate the evolution : What are those factors that may facilitate the evolution of local epidemics emerging into global pandemics? How would you deal with it if discovered in your.

Select a company that is located where you live. briefly des : Select a company that is located where you live. Briefly describe its business then identify what you believe is its most significant business risk.

We found that the earnings per share of a company decreased : We found that the earnings per share of a company decreased if the additional capital it wanted was obtained by issuing additional shares of stock. Explain how this phenomenon comes about. Please also, discuss how this decrease in EPS would affect a ..

Personal level of intercultural communication competence : Critically examine your personal level of intercultural communication competence.

User Account

All Pages