Cash Flow Amounts On December 31, 2023, Michael McDowell wants to have $60,000. He plans to make 6 deposits in a fund to provide this amount. Interest is compounded annually at 12%.

Required:

Compute the equal annual amounts that Michael must deposit assuming that he makes the first deposit on:

(Click here to access the time value of money tables to use with this problem.)

Round your answers to two decimal places.

December 31, 2018

$

December 31, 2017