A young executive deposits $300 at the end of each month for 6 years and then increases the deposits. If the account earns an annual rate of 8.3%, compounded monthly, how much (to the nearest dollar) should each new deposit be in order to have a total of $400,000 after 21 years from the time the deposits were increased? Round your answer to the nearest dollar.
A)$282
B)$1,861
C)$1,179
D)$791
E)$550

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The Answer of A young executive deposits $300 at the end of each month for 6 years and then increases the deposits. If the account earns an annual rate of 8.3%, compounded monthly, how much (to the nearest dollar) should each new deposit be in order to have a total of $400,000 after 21 years from the time the deposits were increased? Round your answer to the nearest dollar.
A)$282
B)$1,861
C)$1,179
D)$791
E)$550

A Young Executive Deposits $300 at the End of Each