Question: II LUI I uestion Help (Compound annuity) You plan on buying some property in Florida 8 years from today. To do this, you estimate that

II LUI I uestion Help (Compound annuity) You plan on buying some property in Florida 8 years from today. To do this, you estimate that you will need $40.000 at that time for the purchase. You would be to accumulate these funds by making equal annual deposits in your savings account, which pays 8 percent annually. If you make your first deposit at the end of this year, and you would the your account to reach $40,000 when the final deposit is made, what will be the amount of your deposits? The amount of your end-of-year deposits will be $ (Round to the nearest cent)

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