A wealthy art collector has decided to endow her favorite art museum by establishing funds for

an endowment which would provide the museum with $$1,000,000$ per year for acquisitions into

per uity.

pet The art

collector

will give

the

endowm

ent upon

her

fiftieth

birthday

$10$ years

from

today.

She

plans to

accumul

ate the

endowm

ent by

making

annual

end$-$of$-$y

ear

deposits

into an

account.

The rate

of

interest

is

expected

to be $6$

percent

in all

future

periods.

How

much

must the

art

collector

deposit

each

year to

accumul

ate to the

required

amount?

A$)$ $$943,396$

B$)$ $$1,264,446$

C$)$ $$1,575,333$

D$)$ $$736,000$