# Question: the kellys are planning for a retirement home they estimate...

###### Question details

The Kellys are planning for a retirement home. They estimate
they will need $220,000 4 years from now to purchase this home.
Assuming an interest rate of 12%, with four equal amounts being
deposited at the beginning of the period. What amount must be
deposited at the beginning of each period? **(Round
factor values to 5 decimal places, e.g. 1.25124. Round answers to
the nearest whole dollar, e.g. 5,275.)**