Kieso, Intermediate Accounting, 16e WileyPLUS: Mila Inter ctice Gradebook ORION

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Kieso, Intermediate Accounting, 16e WileyPLUS: Mila Inter ctice Gradebook ORION Downloadable eTextbook CALCULATOR FULL SCREERN (b) Tom wants to retire at the end of this year (2017). His life years from his able to withdraw $54,000 at the end of each year for the next 16 years, assuning the amount on final answer to 0 decimal places, e.g. 458,581.) expectancy is 16 years from his retirement. Tom has come to you, his CPA, to learn how much he should deposit on deposit will earn 11% interest annually. (Round factor values to 5 decimal pl (Use the below table.) alue of an Annuity of 1 Payments 4% 5% 8% 9% 10% 11% 12% 15% 96154 95238 94340 093458 92593 91743 90909 90090 89286 86957 1.88609 1.85941 183339 180802 1.78326 1.7591 1.73554 1.71252 169005 1.62571 277509 2.72325 267301 262432 2.57710 2.53130 2.48685 2.44371 240183 228323 3.62990 3.54595 3.46511 338721 3.31213 3.23972 3.16986 3.10245 3.03735 2.85498 4.45182 4.32948 4.21236 4.10020 3.9927 3.88965 3.79079 3.69590 3.60478 3.35216 5.24214 5.07569 4.91732 4.76654 4.62288 4.48592 4.35526 4.23054 4.11141 3.78448 6.00205 5.78637 5.58238 5.38929 5.20637 5.03295 4.86842 4.71220 456376 4.16042 673274 6.46321 620979 5.97130 5.74664 5.53482 5.33493 5.14612 496764 4.48732 7.43533 7.10782 6.80169 6.51523 6.24689 5.99525 5.75902 5.53705 5.32825 4.77158 s.11090 7.72173 7.36009 702358 6.71008 6.41766 6.14457 5.88923 5.65022 5.01877 8.76048 8.30641 7.88687 7.49867 7.13896 6.80519 6.49506 6.20652 5.93770 5.23371 9.38507 886325 8.38384 794269 7.53608 7.16073 6.81369 6.49236 6.19437 542062 9.98565 9.39357 8.85268 8.35765 7.90378 7.48690 7.10336 6.74987 642355 5.58315 10 56312 9.89864 9.29498 8.74547 8.24424 7.78615 7.36669 6.98187 6.62817 5.72448 11.11839 10.37966 9.71225 9.10791 8.55948 8.06069 7.60608 7.19087 6.81086 5.84737 5 7 10 12 15 &hoses; campbell This PC Libraries Control Panel Recycle in

Explanation / Answer

Answer:

Tom should deposit today =$398,475

Working notes for the above answer is as under

N=16

I=11%

PMT=5400

PV=?

PV= 54000 x PVIFA for 16 year at 11%
PV=54000x 7.37916

PV=$398,475

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