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You need to accumulate $80,831 for your son's education. You have decided to place equal year-end deposits in a savings account for the next 16

You need to accumulate $80,831 for your son's education. You have decided to place equal year-end deposits in a savings account for the next 16 years. The savings account pays 13.00 percent per year, compounded annually.How much will each annual payment be?

Round the answer to two decimal places.

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