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( Annuity payments ) You plan to buy some property in Florida 8 years from today. To do this, you estimate that you will need
Annuity payments You plan to buy some property in Florida years from today. To do this, you estimate
that you will need $ at that time. You would like to accumulate these funds by making equal annual
deposits into your savings account, which pays percent annually. If you make your first deposit at the end
of this year, and you would like your account to reach $ when the final deposit is made, how much will
you have to deposit into the account annually?
The amount of money you will have to deposit into the account annually is $Round to the nearest cent.
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