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Instead of investing the entire $1,003,800, Bogut invests $324,200 today and plans to make 15 equal annual investments into the fund beginning one year from
Instead of investing the entire $1,003,800, Bogut invests $324,200 today and plans to make 15 equal annual investments into the fund beginning one year from today. What amount should the payments be if Bogut plans to establish the $4,193,124 foundation at the end of 15 years? (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to 0 decimal places, e.g. 458,581.)
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