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QUESTION 8 For next 10 years, Joe will make annual deposits of size D at the end of each year into an account that earns
QUESTION 8 For next 10 years, Joe will make annual deposits of size D at the end of each year into an account that earns an annual effective interest rate of 5%. The deposits accumulate in size to allow Joe to make withdraws of 10000 each year for a total of 15 consecutive years, with the first withdrawal coming one year after the final deposit. Calculate D. Give your answer as a decimal rounded to two places (i.e. X.xx)
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