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Today, you begin to receive payments of equal amounts at the beginning of each year for 8 years (including the payment you receive today). Assume

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Today, you begin to receive payments of equal amounts at the beginning of each year for 8 years (including the payment you receive today). Assume the appropriate discount rate is 5%. If the present value of this series of payments is $30,000, what must be the amount of each payment? Do not round intermediate calculations. Round the final answer to 2 decimal places. Omit any commas and the $ sign in your response. For example, an answer of $1,000.50 should be entered as 1000.50. 2 Numeric Response

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