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Your account pays interest at 4 percent p.a.. You deposit $ 21,514 in it today. You must have exactly $ 52,252 in the account at
Your account pays interest at 4 percent p.a.. You deposit $ 21,514 in it today. You must have exactly $ 52,252 in the account at the end of two years. What should you do at the end of the first year (that is, what dollar amount must you deposit) to ensure this? (Record your answer without a dollar sign, without commas and round your answer to 2 decimal places; that is, record $3,245.847 as 3245.85).
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