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Sally is 30 years old today and she wishes to accumulate $2,517,000 by her 63 rd birthday so she can retire to a ski
Sally is 30 years old today and she wishes to accumulate $2,517,000 by her 63 rd birthday so she can retire to a ski lodge in Colorado. She wishes to accumulate this amount by making equal deposits on her 30 th through her 62 th birthdays. What annual deposit must Sally make if the fund will earn 7% interest compounded annually? (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to O decimal places, e.g. 458,581.)
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