5. Cousin Clara has been reconsidering her decision to become a nun. She still wants to dedicate her life to helping people, but after speaking to several real nuns, she has learned that the need for skills like "the Rigor mortis death chop" is rather limited at the convent. In order to fulfill her life's mission, Clara has decided to start a foundation to teach young girls how to cope with the rough-and-tumble realities of the world, including how to beat the snot out of boys who try to hassle them. The "You Go Girl Foundation" will be eligible for funding by charitable organizations after it has proven its viability. Clara wants to have the grand opening of the foundation four years from today (today is January 1). Until then, she will work full time at her job with the credit company to raise the funds necessary for the first five years of operations. After five years of operations, the foundation will be eligible for grants to cover its entire operating budget, but for the first five years of operations the budget will be self-funded. Clara has a friend who will provide the office and work spaces at no charge, and he will even pay for all utilities (Clara can be VERY persuasive when discussing charitable tax deductions). The operating budget for the first five years will be $25,000 per year (Clara will work part-time to cover her personal living expenses). This amount will be payable at the beginning of each year since the folks who sell pencils and paper and bandages cannot wait until year-end to be paid. Clara has opened an account for the foundation at the First Philanthropy Bank; this account will pay 6% annually. All monies for the foundation will be deposited in this account. Clara will make a deposit to this account today and at year-end for each of the next four years (a total of five deposits); each deposit will be for the same amount. How much must Clara deposit so that in four years time there will be sufficient funds available to finance the foundation's operating budget for the following five years? (In case you are interested, Clara won a small lottery prize and was able to put aside all the money needed to send her nieces to karate school. She donated the rest of it to her favorite charities. Good for her.)