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Hi, I would like to see how to work this probl...




Hi, I would like to see how to work this problem step by step with the answer please. Stephen Bosworth, a salesman contemplating retirement on his fifty-fifth birthday, decides to create a fund on an 8% basis that will enable him to withdraw $28,200 per year on June 30, beginning in 2016 and continuing through 2019. To develop this fund, Stephen intends to make equal contributions on June 30 of each of the years 2012?2015. How much must the balance of the fund equal on June 30, 2015, in order for Stephen Bosworth to satisfy his objective? (Round answers to 0 decimal places, e.g. $458,581.) (b) What are each of Stephen?s contributions to the fund? I got this question from my Text book: Exercise 6-8 Kieso, D., Weygandt, J., & Warfield, T. (2012). Intermediate Accounting, 14th Edition. Hoboken, NJ: Wiley.


Paper#3677 | Written in 18-Jul-2015

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