View Policies

Current Attempt in Progress

Donna is 40 years old today and she wishes to accumulate $2.240.000 by her sixty-fifth birthday so she can retire to a beach in Florida.

She wishes to accumulate this amount by making equal deposits on her fortieth through her sixty-fourth birthdays.

Click here to view factor tables

Compute the annual deposit Donna must make if the fund will earn 6% interest compounded annually. (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to 0 decimal places, e.g. 458,581.)

Annual deposit

$