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You plan to buy property in Florida 8 years from today. To do this, you estimate that you will need $ 4 5 0 0

You plan to buy property in Florida 8 years from today. To do this, you estimate that you will need $ 45000 at that time for the purchase. You would like to accumulate these funds by making equal annual deposits into your savings account, which pays 9% annually. If you make your first deposit at the end of this year, and you would like your account to reach $45000 when the final deposit is made, what amount do you need to deposit annually?

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