Knowledge Check Question 8 Chris has always dreamed of opening a caf by the seaside. He decides he will save to help open the caf by depositing money in an ordinary annuity that earns 3.6% interest, compounded monthly. Deposits will be made at the end of each month. How much money will he need to deposit into the annuity each month for the annuity to have a total value of $26,000 after 7 years? Do not round intermediate computations, and round your final answer to the nearest cent. If necessary, refer to the list of financial formulas. Austin V Espaol Knowledge Check Question 8 Chris has always dreamed of opening a caf by the seaside. He decides he will save to help open the caf by depositing money in an ordinary annuity that earns 3.6% interest, compounded monthly. Deposits will be made at the end of each month. How much money will he need to deposit into the annuity each month for the annuity to have a total value of $26,000 after 7 years? Do not round intermediate computations, and round your final answer to the nearest cent. If necessary, refer to the list of financial formulas. Austin V Espaol