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Hal wants to establish a savings fund from which a community organization could draw $890 a year for 20 years. If the account earns 2.5

image text in transcribed Hal wants to establish a savings fund from which a community organization could draw $890 a year for 20 years. If the account earns 2.5 percent annual interest, what amount does he have to deposit now to achieve this goal? Use Exhibit 1B-4. (Round time value factors to 3 decimal places and final answer to the nearest dollar amount. Omit the "\$" sign in your response.) Amount to be deposited $

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