Use this information to answer the following question. 
-What amount must be deposited today so that $1,200 may be withdrawn at the end of each year for three years,assuming an APR of 7 percent?
Definitions:
Discount Period
The timeframe in which a discount is offered for early payment of invoices, encouraging quicker payment from buyers.
Inventory Shrinkage
The loss of products between acquisition and sale, often due to theft, damage, or errors in counting.
Adjusting Entry
A journal entry made at the end of an accounting period to allocate income and expenditures to the period in which they actually occurred.
Perpetual Inventory Records
The continuous tracking of inventory levels and updates in real-time, showing the quantity of inventory on hand at all times.
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