An account earns 5% interest per year, compounded annually. Suppose payments of $6000 each are to be made once a year from the account for 10 years, starting now. How much must be deposited now to cover these payments? Round to the nearest dollar.

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The Answer of An account earns 5% interest per year, compounded annually. Suppose payments of $6000 each are to be made once a year from the account for 10 years, starting now. How much must be deposited now to cover these payments? Round to the nearest dollar.

An Account Earns 5% Interest Per Year, Compounded Annually