Korbin is planning to go on a three-month European vacation. The trip will likely cost $12,000. He has found an account where he can set aside money at the beginning of each year, and earn 8% per annum. In order to reach his goal in four years, Korbin will need to set aside ________ at the beginning of each year Here is the solution,$12,000 (future value of ord. annuity for 5 periods at 8% minus 1) = $12,000 4.8666 = $2,466. I just do not understand how that is the solution. I have never seen a FVOA problem where you subtract one from using the FVOA table.