Question
You will deposit $150 each of the next five years (the first deposit will occur one year from today, and there will be a total
You will deposit $150 each of the next five years (the first deposit will occur one year from today, and there will be a total of 5 equal deposits) into an account that pays a 7.50% effective annual rate. Six years from today, you wish to have exactly $1000 in the account. You would need to deposit an additional $_______ into the account six years from today to meet that goal.
Round your final answer to 2 decimal places (ex: if your answer is 12.345678 then you should enter 12.35), but do not round any intermediate work (doing so could cause your answer to be too imprecise and therefore be marked as incorrect).
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