How much would John have to invest on January

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Problem - Present Value of an Annuity - John Joshua wants to make 5 equal annual withdrawals of $20,000 from a fund that will earn interest at 12% compounded annually.

Required - How much would John have to invest on January 1, 2019, if he makes the first withdrawal on:

1. January 1, 2020

2. January 1, 2019

3. January 1, 2023

Reference no: EM132882959

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