eBook Reaching a Financial Goal You need to accumulate $10,000. To do so, you plan to make deposits of $1,400 per year - with the first payment being made a year from today - into a bank account that pays 11% annual interest. Your last deposit will be less than $1,400 if less is needed to round out to $10,000.

How many years will it take you to reach your $10,000 goal? Do not round intermediate calculations. Round your answer up to the nearest whole number. _______year(s)

How large will the last deposit be? Do not round intermediate calculations. Round your answer to the nearest cent. $_____________