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Leon Kaminski just received a signing bonus of $1,200,000. His plan is to invest this payment in a fund that will earn 6%, compounded annually.

image text in transcribed Leon Kaminski just received a signing bonus of $1,200,000. His plan is to invest this payment in a fund that will earn 6%, compounded annually. (For calculation purposes, use 5 decimal places as displayed in the factor table provided.) Click here to view the factor table. If Leon plans to establish the Leon the Tank Foundation once the fund grows to $1,804,800, how many years until he can establish the foundation? eTextbook and Media years Instead of investing the entire $1,200,000, Leon invests $410,000 today and plans to make 7 equal annual investments into the fund beginning one year from today. What amount should the payments be to establish the $1,804,800 Leon the Tank Foundation at the end of 7 years? (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to O decimal places, e.g. 458,581.) Payments +A $image text in transcribed

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