Derek wants to withdraw $14,506.00 from his account 7.00 years from today and $12,383.00 from his account 12.00 years from today. He currently has $3,575.00 in the account. How much must he deposit each year for the next 12.0 years? Assume a 5.12% interest rate. His account must equal zero by year 12.0 but may be negative prior to that.

Submit Answer format: Currency: Round to: 2 decimal places.

Please explain each step in detail and in a simple format. I am a beginner.