Question: (Compounding using a calculator ) Lisa Simpson wants to have $2 million in 40 years by making equal annual end-of-the-year deposits into a tax-deferred account

(Compounding using a calculator ) Lisa Simpson wants to have $2 million in 40 years by making equal annual end-of-the-year deposits into a tax-deferred account paying 7.75 percent annually. What must Lisa's annual deposit be?

The amount of Lisa's annual deposit must be $ ______(Round to the nearest cent and use thousand separators.)

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