Steven Rich, an executive VP contemplating retirement on his sixty-fifth birthday, decides to create a fund on a 10% basis that will enable him to withdraw $87,000 per year on July 31, beginning in 2029 and continuing through 2033. To develop this fund, Rich intends to make equal contributions on July 31 of each of the years 2025-2029. (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to 2 decimal places, e.g. 458,581.25.) Click here to view factor tables (a) Compute how much the balance of the fund must equal on July 31, 2029, for Rich to satisfy his objective. Required fund balance on July 31, 2029 $
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