1. You need to accumulate $74,900 for your son's education. You have decided to place equal year-end deposits in a savings account for the next 10 years. The savings account pays 3,44 percent per year, compounded annually. How much will each annual payment be? Round answer to two decimal places.
2. Do people always make rational decisions? What are the factors that lead to bounded rationality? What are the factors that lead to irrational economic decisions?