How much must the balance of the fund equal on june 30 2015


Stephen Bosworth, a super salesman contemplating retirement on his fifty-fifth birthday, decides to create a fund on an 9% basis that will enable him to withdraw $26,600 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. (a) 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.) Balance of the fund equal on June 30, 2015

Request for Solution File

Ask an Expert for Answer!!
Accounting Basics: How much must the balance of the fund equal on june 30 2015
Reference No:- TGS0580975

Expected delivery within 24 Hours