You

need to accumulate $78,479 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 5.02 percent per year, compounded annually. How much will each annual payment be? On test/quizzes we have to show our work so I need to know the equation so that i can show how I got to my answer. Also if you know an online calculator as well that I can use to check my answers that would be great as well. Please show equation to use and step by step. Thanks

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