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You are a financial adviser working with a client who wants to retire in eight years. The c ent has a savings account with a
You are a financial adviser working with a client who wants to retire in eight years. The c ent has a savings account with a local bank that pays 7% annual interest. The cient wants to deposit an amount that will provide her with $1,008,500 when she retires. Currently, she has $303,400 in the account. (FV of $1, PV of S1. FVA of $1, and PVA ofS1) (Use the appropriate factors) from the tables provided.) How much additional money should she deposit now to provide her with $1,008,500 when she retires? (Round your answer to nearest whole dollar.) l deposit amount
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