Your grand aunt is planning to take a three$-$year leave of absence $($She will be living at austerity camp$)$ with

no pay seven years from now. Your grand aunt will need $$20,000$ at the beginning of each of the three

years for living expenses. Assume that interest rates will be $12\%$ compounded annually for the next twelve

years.

How much should your grand aunt deposit at the end of each year for the next seven years in order to pay

for her leave?

Can you answer this in terms of an introduction to finance course, using FV$,$ annuity, etc. and explain the process