Question 7

7. Determine the fixed annual deposits (end-of-year) that will produce the cash flows from years 4 to 7 in the below cashflow diagram. Assume the interest rate is 8%, where the compounding is monthly. $1,650 $1,500 $1,350 $1,200 2 0 1 3 4 5 7 6 1 1 1 1 1 1 1 1 1 1 I 1 ? (Round to the nearest dollar.) Each annual deposits will be $