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You need to accumulate $119,221 for your son's education. You have decided to place equal year-end...

You need to accumulate $119,221 for your son's education. You have decided to place equal year-end deposits in a savings account for the next 7 years. The savings account pays 4.08 percent per year, compounded annually. How much will each annual payment be?

Round the answer to two decimal places.

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Answer #1

SEE THE IMAGE. ANY DOUBTS, FEEL FREE TO ASK. THUMBS UP PLEASE

AS NOTHING WAS MENTIONED, USED EXCEL. BUT IF YOU NEED WITH FORMULA, LET ME KNOW, WILL DO THAT ALSO. THANK YOU

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