Question: This set of problems is designed to be calculated using the Excel or financial calculator. Do not use financial tables to calculate these problems. Question

This set of problems is designed to be calculated using the Excel or financial calculator. Do not use financial tables to calculate these problems. Question 3 (1 point) George needs to accumulate $113,807 for his son's education. He decided to place equal year-end deposits in a savings account for the next 10 years. The savings account pays 7.09 percent per year, compounded annually. How much will each annual payment be? Round the answer to two decimal places

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