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How much would Ralph have to invest on January

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Reference no: EM132882964

Problem - Present Value of an Annuity - Ralph Benke wants to make 8 equal semiannual withdrawals of $8,000 from a fund that will earn interest at 11% compounded semiannually.

Required - How much would Ralph have to invest on:

1. January 1, 2019, if the first withdrawal is made on July 1, 2019.

2. July 1, 2019, if the first withdrawal is made on July 1, 2019.

3. January 1, 2019, if the first withdrawal is made on January 1, 2022.

Reference no: EM132882964

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