Kenneth wants to retire at the end of this year (2025). His life expectancy is...
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Accounting
Kenneth wants to retire at the end of this year (2025). His life expectancy is 20 years from his retirement. Kenneth has come to you, his CPA, to learn how much he should deposit on December 31, 2025 to be able to withdraw $83,000 at the end of each year for the next 20 years, assuming the amount on deposit will earn 6% interest annually. (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to 0 decimal places, e.g. 458,581.)
Present Value mount of present value in dollars?
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