6% Interest Rate Compounded Annually

Instead of investing the entire $3,000,000, Bogut invests $440,000 today and plans to make 7 equal annual investments into the fund beginning one year from today. What amount should the payments be to establish the $4,512,000 Morgan the Tank Foundation at the end of 7 years? (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to 0 decimal places, e.g. 458,581.) Payments