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Instead of investing the entire $942,900, Bogut invests $287,300 today and plans to make 11 equal annual investments into the fund beginning one year from
Instead of investing the entire $942,900, Bogut invests $287,300 today and plans to make 11 equal annual investments into the fund beginning one year from today. What amount should the payments be if Bogut plans to establish the $3,279,925 foundation at the end of 11 years? (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to 0 decimal places, e.g. 458,581.) additional info: 12% compounded annually
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