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You need to accumulate $77,011 for your son's education. You have decided to place equal year-end deposits in a savings account for the next 13

You need to accumulate $77,011 for your son's education. You have decided to place equal year-end deposits in a savings account for the next 13 years. The savings account pays 9.47 percent per year, compounded annually. How much will each annual payment be?

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