How much money should Timothy and Tiffany deposit annually for 20 years in order

$8,171.44

Explanation:

The present value of the income of 10 years now is the future value of the payments in 20 years.

The present value is therefore;

= 30,000 * Present value of annuity interest factor, 4%, 10 years

= 30,000 * 8.111

= $243,330‬

As  $243,330‬ is the future value of the payments in 20 years.

The payment is therefore;

243,330‬ = Payment * Future value of annuity interest factor, 4%, 20 years

243,330 = Payment * 29.7781

Payment = 243,330/29.7781

= $8,171.44

Producers raise prices to meet increased costs .