Question 57 (0.5 points) Saved 15 years from now, your 2-year old son will be attending Harvard. You have determined he will need $70,000 per year for tuition and living expenses (Each year of the college, he needs to pay the $70,000 at the beginning of the year. I.e. the first payment is 15 years from today.). In 15 years, you will give him a lump sum payment for the entire amount he will need, assuming that he will be able to invest the money not yet needed at 5% interest. You have found an investment opportunity that will yield an annual return of 7% on your monthly payments (monthly payments will be deposited at the end of each month. I.e. the first deposit you will make one month from today.). How much will you have to invest each month to give your son the money he needs for his education? $821.30 $260627 $822.27 $722.27