You want to have $67,000 in your savings account 4 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 6.3 percent interest, what amount must you deposit each year?

Multiple Choice

$15,247.63

$16,750.00

$4,221.03

$4,220.96

$19,280.14