A small company wishes to set up a fund that : 148581
A small company wishes to set up a fund that can be used fortechnology purchases over the next 6 years. Their forecast is for$16,000 to be needed at the end of year 1, decreasing by $2,000each year thereafter. The fund earns 6 percent per year. How muchmoney must be deposited to the fund at the end of year 0 to justdeplete the fund after the last withdrawal?