FundRobot » Fund of Funds » Help with an annuity due problem ?

Old   #1 (permalink)
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Default Help with an annuity due problem please?

I want to create a fund on 8% that would allow me to withdraw $34,900 per year beginning 2016 until 2019. I make equal contributions 2012 to 2015. how much must the balance of the fund equal on 2015 to satisfy my objective?
Okay. So I know I have an annuity due problem and that I want to know the present value. But when I use the present value of annuity table, the factor I use multiplied by my annuity payment, I get just over $104,900. But I am missing something. Can anyone please help me with this? Don't give the answer, just tell me what I'm doing wrong or point me in the right direction.

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Default Help with an annuity due problem please?

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