The Godinezes plan to take three cruises, one each year. They will make their first cruise in 9 years, the second cruise a year later and the third cruise within 11 years. The type of cruise they will take currently costs $5,000, but the expected inflation to increase this cost by an average of 3.5% per year. They will contribute to an account to save for these cruises that will earn 8% interest annual. They shouldn't have money left over.

1. What equal contributions should you make today and all years until your first cruise (ten contributions) to have saved enough at that time for all three cruise ships? They pay for the cruises when they are taken.