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(Solution document) Instead of investing the entire $943,300, Bogut invests $278,200 today and plans to make 15 equal annual investments into the fund beginning one year...


Instead of investing the entire $943,300, Bogut invests $278,200 today and plans to make 15 equal annual investments into the fund beginning one year from today. What amount should the payments be if Bogut plans to establish the $2,260,675 foundation at the end of 15 years? (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to 0 decimal places, e.g. 458,581.)

Payments? Answer is NOT 65,443. WHat would be the correct answer for this problem. Please show work.

 







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