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Provide an explanation of how you got the answer, please! Thank You! Calculating deposit needed You put $6,000 in an account earning 7%. After 5

image text in transcribedProvide an explanation of how you got the answer, please! Thank You!

Calculating deposit needed You put $6,000 in an account earning 7%. After 5 years, you make another deposit into the same account. Three years later (that is, 8 years after your original $6,000 deposit), the account balance is $23.000. What was the amount of the deposit at the end of year 5? The amount of the deposit at the end of year 5 is $ . (Round to the nearest cent.)

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