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Morgan Kaminski just received a signing bonus of $3.000.000. His plan is to invest this payment in a fund that will earn 6%, compounded annually.

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Morgan Kaminski just received a signing bonus of $3.000.000. 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. Instead of investing the entire $3,000,000, Morgan invests $440,000 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 $4,510,890 Morgan the Tank Foundation at the end of 7 years? (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to 0 decimal places, eg. 458,581.) Payments $ C WP Antarer via C S Al Mulher Ches.com dutation contenerell TABLE 6.1 Future Value of 1 (Future Value of a Single Sum) FVF = (1 + i)" (n) Periods 2% 27% 3% 4% 5% 1 1.02000 1.02500 1.03000 1.04000 1.05000 2 1.04040 1.05063 1.06090 1.08160 1.10250 3 1.06121 1.07689 1.09273 1.12486 1.15763 4 1.08243 1.10381 1.12551 1.16986 1.21551 5 1.10408 1.13141 1.15927 1.21665 1.27628 6% 1.06000 1.12360 1.19102 1.26248 1.33823 6 7 8 9 10 1.12616 1.14869 1.17166 1.19509 1.21899 1.15969 1.18869 1.21840 1.24886 1.28008 1.19405 1.22987 1.26677 1.30477 1.34392 1.26532 1.31593 1.36857 1.42331 1.48024 1.34010 1.40710 1.47746 1.55133 1.62889 1.41852 1.50363 1.59385 1.68948 1.79085 11 12 13 14 15 1.24337 1.26824 1.29361 1.31948 1.34587 1.31209 1.34489 1.37851 1.41297 1.44830 1.38423 1.42576 1.46853 1.51259 1.55797 1.53945 1.60103 1.66507 1.73168 1.80094 1.71034 1.79586 1.88565 1.97993 2.07893 1.89830 2.01220 2.13293 2.26090 2.39656 16 17 18 1.37279 1.40024 1.42825 1.48451 1.52162 1.55966 1.60471 1.65285 1.70243 1.87298 1.94790 2.02582 2.18287 2.29202 2.40662 2.54035 2.69277 2.85434

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