How much will each annual payment be

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Question: You need to accumulate $113, 370 for your son's education. You have decided to place equal year-end deposits in a savings account for the next 6 years. The savings account pays 5.86 percent per year, compounded annually. How much will each annual payment be? Round the answer to two decimal places. The response must be typed, single spaced, must be in times new roman font (size 12) and must follow the APA format.

Reference no: EM132009809

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