finance
posted by mo .
David will retire to Florida in ten years. After he retires, he wants to take out $28,000 at the end of each year for 15 years. If he can invest the money at 8% annually, what amount must he invest today?
Respond to this Question
Similar Questions

Annuities and sicking funds
Janet Woo decided to retire to fla. in 6 years. What amount should Janet invest today so she can withdraw 50000.00 at the end of each year for 20 years after she retires? 
Finance
John wants a $200,000 house. He is 40 and he retires at 65. He believes he earns 9% annually after taxes. How much must John invest at the end of each of the next 25 years to have the cash purchase price of the house when he retires? 
MATH
Please help check my answers to make sure they are correct. I used the "sinking fund payment and present value of an ordinary annuity" formulas to solve this story problem. Thanks! Story: Naomi Dexter is 20 years old. She decides to … 
Math
Please help check my answers to make sure they are correct. I used the "sinking fund payment and present value of an ordinary annuity" formulas to solve this story problem. Thanks! Story: Naomi Dexter is 20 years old. She decides to … 
math
Jim Hunter decided to retire to Florida in 10 years. What amount should Jim invest today so that he will be able to withdraw $25,000 at the end of each year for 30 years after he retires. Assume he can invest money at 9% interest compounded … 
Math
Jim Hunter decided to retire to Florida in 10 years. What amount should Jim invest today so that he will be able to withdraw $25,000 at the end of each year for 30 years after he retires. Assume he can invest money at 9% interest compounded … 
Math
Jim Hunter decided to retire to Florida in 10 years. What amount should Jim invest today so that he will be able to withdraw $25,000 at the end of each year for 30 years after he retires? 
math
Justice wants to invest in a mutual fund for her retireme. If she expects to make 17% annually and wants to retire in 35 years, how much money must she invest per month to have 5 million dollars when she retires? 
Finance
Nelson Collins decided to retire to Canada in 10 years. What amount should Nelson deposit so that he will be able to withdraw $80,000 at the end of each year for 25 years after he retires? 
Financial math
Janet Woo decided to retire to Florida in 5 years. What amount should Janet invest today so she can withdraw $45,000 at the end of each year for 20 years after she retires?