You are a financial adviser working with a client who wants to retire in eight years. The client has a savings account with a local bank that pays 8 percent annual interest. The client wants to deposit an amount that will provide her with $1,009,500 when she retires. Currently, she has $303,800 in the account. (FV of $1, PV of $1, FVA of $1, and PVA of $1) Note: Use the appropriate factor(s) from the tables provided.

Required: How much additional money should she deposit now to provide her with $1,009,500 when she retires?