Question 8 0 You wish to build an independent fund for your retirement planned for your 50th birthday. On your 25th birthday, you will make the first contribution of $2,400 into the fund that will earn 10%/year effective. Each subsequent annual payment into the fund will be 1% larger than the previous one. You will make your last payment into the fund on your 50th birthday. At age 50, when you retire, you have decided to opt for 40 equal annual payments from the fund with the payments to start on your 51St birthday. How large will each payment be, assuming the fund will still be earning 10%/year effective