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12 A company estimates that it will need $62,000 in 8 years to replace a computer. If it establishes a sinking fund by making fixed

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A company estimates that it will need $62,000 in 8 years to replace a computer. If it establishes a sinking fund by making fixed monthly payments into an account paying 5.7% compounded monthly, how much should each payment be? The amount of each payment should be $ (Round to the nearest cent.)

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