Morgan Hitchcock is 40 years old today and he wishes to accumulate $536,000 by his 65 th birthday so he can retire to his

summer place on Lake Hopatcong. He wishes to accumulate this amount by making equal deposits on his 40 th through his 64

th birthdays. What annual deposit must Morgan make if the fund will earn 8% interest compounded annually? (Round factor values

to 5 decimal places, eg. 1.25124 and final answer to O decimal places, eg-458,581.)

(b) Morean Hitchcock is 40 yeans old tod y and he wishas to accumudate 5536,000 bw his 65 th birthday 90 he can retire to Mis summer place on Labe Hoputcong. He wiahe to accumulate this amount by making'equal degosits on lyat 40 th throigh his o4 th birthday. What anmal deposit msst Morgan make it the fund will earn bx interest compounged annealip? (Round foctor volues to 5 decimal places,eg. 1.25124 and find anoer to 0 docimal ploces, es. 450,531) Ansialdeposit 1 efektiook and Media Attempts: 0 of a used Thi earts of this queswon mint be completed inorder, thispars wit be waiable when you complete the part abovil. The parts ch this question wies be campleted in order. This part wit be walatie whee you comblete the pars above: (d)