Mr. Lays wants to save up and have $13.17 million for his retirement exactly 9 years from today. Mr. Lays plans to make equal annual deposits into an account that will earn 4.84 percent compounded annually. How much must Mr. Lays deposit into his retirement account each year to reach his goal?

Multiple Choice

$1,146,777.29

$1,202,281.31

$1,899,823.37

$1,839,709.31