Question: Robert is interested in purchasing a second home overlooking a mountain lake. He believes that they should buy this home soon, make payments while

Robert is interested in purchasing a second home overlooking a mountain lake. He believes that they should buy this home soon, make payments while they are working, use it for vacations, and move into the house permanently once they retire. If they need a down payment of $35,500, how much should they save annually over the next 7 years? Assume that they can earn 7% on their annual savings. (Round answer to 2 decimal places, e.g. 52.75. Do not round intermediate calculations.) They should save $ annually over the next 7 years.

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