### Annuity Amount Managerial Finance

Dr. J. wants to buy an IBM personal computer which will cost $2,788 four years from today. He would like to set aside an equal amount at the end of each year in order to accumulate the amount needed. He can earn 7% annual return. How much should he set aside? A)697.00, B)627.93, C)823.15, D)531.81