Question $15$

$5$ pts

Your goal is to have $$270,000$ in $25$ years. Given a $14\%$ annual return, if you fund the account once every year with fixed payments $($with the first being one year from now; i$.$e$.,25$ payments from time nodes $1$ to $25),$ how much would each payment have to be$?$

Note: Show your answer in units of dollars, use plain numbers with at least two digits after the decimal $($e$.$g$.,$ for $$12,345\mathrm{.}6789,$ type $12345\mathrm{.}68).$

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