You want to have $46,000 in your savings account 6 years from now, and you're prepared to make equal annual deposits into the account at the end of each year.

Required:

If the account pays 7.5 percent interest, what amount must you deposit each year?

rev: 09_17_2012

$3,450.02

$9,744.68

$7,666.67

$6,350.06

$3,449.98