How much does the bluebird company need to deposit today

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The Bluebird Company has a $15177 liability it must pay 4 years from today. The company is opening a savings account so that the entire amount will be available when this debt needs to be paid. The plan is to make an initial deposit today and then deposit an additional $2903 a year for the next 4 years, starting one year from today. The account pays a 2% rate of return. How much does the Bluebird Company need to deposit today? (Round answer to 2 decimal places. Do not round intermediate calculations).

Reference no: EM131967526

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