$49,094.23 must be deposited to the fund at the end of year 0 to just deplete the fund after the last withdrawal.
Money that should be deposited to the fund at the end of year 0:
= 16000/1.11 + 14000/[tex]1.11^2[/tex] + 12000/[tex]1.11^3[/tex] + 10000/[tex]1.11^4[/tex] + 8000/[tex]1.11^5[/tex] +
6000/[tex]1.11^6[/tex]
= 16000/1.11 + 14000/1.2321 + 12000/1.367631 + 10000/1.51807 + 8000/1.68505 + 6000/1.87041
= 49,094.223001081
= $ 49,094.23
Hence, $49,094.23 must be deposited to the fund at the end of year 0 to just deplete the fund after the last withdrawal.
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