On the advice of his C.P.A., a 50 year-old sole-proprietor begins an I.R.A. to save for his retirement. He makes a series of 15 equal deposits (the first such deposit is made in one year and the last when he is 65). When he turns 66, the businessman wants to withdraw $35,000 per year for 20 years. If money grows at 4.3 % (effective rate) during the accumulation period and at 3.3% per annum thereafter, how much money does he need to deposit into his retirement fund each year?