Question: You have found the perfect burial plot. You do not plan to use need it for at least 6 0 years. The plot costs $

You have found the perfect burial plot. You do not plan to use need it for at least 60 years. The plot costs $12,000 today and burial plots are increasing at 4% per year. How much do you need to deposit at the beginning of the next 60 years to pay for the plot if you can earn 11% on your deposit?

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