Waiting for answer This question has not been answered yet. You can hire a professional tutor to get the answer.

# Jake is saving money for a down payment on a car. He needs $1,800 in 10 months to make his down payment and is saving money in an annuity yielding an...

Jake is saving money for a down payment on a car. He needs $1,800 in 10 months to make his down payment and is saving money in an annuity yielding an annual interest rate of 7% compounded monthly. If the annuity requires that Jake make monthly investments, what annuity payment must Jake make to save enough for his down payment?