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Assume that you wish to make annual deposits into a savings account. The interest rate offered by the bank is 6%, and you plan to
Assume that you wish to make annual deposits into a savings account. The interest rate offered by the bank is 6%, and you plan to save for the next 3 years. If your goal is for the present value of your savings to be equal to $3,588, how much money must you deposit every year? Enter your answer in terms of dollars and cents, rounded to 2 decimals, and without the dollar sign. That means, for example, that if your answer is $127.5678, you must enter 127.57
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