Please help solve

2 Single-Amount PV Question Your company wants to establish a capacity addition fund to be available at the end of Year 8. How much needs to be deposited as a single sum to grow to $500,000 in time, rounded to the nearest $1? Assume a 7 percent annual interest rate (Note Your answer should be a number and have a minimum of 1 word and a maximum of 25 words Once submitted, your response cannot be edited) Type your answer here