The Cranes are planning for a retirement home. They estimate they will need $216,000 4 years...

 

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The Cranes are planning for a retirement home. They estimate they will need $216,000 4 years from now to purchase this home. Assuming an interest rate of 11%, what amount must be deposited at the end of each of the 4 years to fund the home price? (Round factor values to 5 decimal places, e.g. 1.25124. Round answer to 2 decimal places, e.g. 5,275.24.) Amount deposited each year $ The Cranes are planning for a retirement home. They estimate they will need $216,000 4 years from now to purchase this home. Assuming an interest rate of 11%, what amount must be deposited at the end of each of the 4 years to fund the home price? (Round factor values to 5 decimal places, e.g. 1.25124. Round answer to 2 decimal places, e.g. 5,275.24.) Amount deposited each year $