Question: (Compounding using a calculator) Lisa Simpson wants to have $1.7 million in 40 years by making equal annual end-of-the-year deposits into a tax-deferred account paying

(Compounding using a calculator) Lisa Simpson wants to have $1.7 million in 40 years by making equal annual end-of-the-year deposits into a tax-deferred account paying 9.75 percent annually. What must Lisa's annual deposit be? The amount of Lisa's annual deposit must be $(Round to the nearest cent.)

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