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Use the following 6% interest factors. Present Value of Ordinary Annuity Future Value of Ordinary Annuity 7 periods 5.5824 8.39384 8 periods 6.2098 9.89747 9

Use the following 6% interest factors. Present Value of Ordinary Annuity Future Value of Ordinary Annuity 7 periods 5.5824 8.39384 8 periods 6.2098 9.89747 9 periods 6.8017 11.49132 Swifty Corporation wishes to accumulate $1750000 by May 1, 2025 by making 8 equal annual deposits beginning May 1, 2017 to a fund paying 6% interest compounded annually. What is the required amount of each deposit? $176814 $166805 $163200 $281813

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