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You expect to receive $9,000 per year for each of the next 7 years, with the first payment occurring one year from today. You plan
You expect to receive $9,000 per year for each of the next 7 years, with the first payment occurring one year from today. You plan to deposit each payment in an account that pays an annual rate of 6%. You also intend to leave the money in the same account for 2 years following the final deposit and then use the money as a down payment on a house. How much will you have for this future down payment? Enter your answer as a positive number rounded to the nearest dollar.
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