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7. At the age of 65, Malcolm has saved $1,500,000. He has decided to take monthly payments for the next 20 years from this account,

7. At the age of 65, Malcolm has saved $1,500,000. He has decided to take monthly payments for the next 20 years from this account, which is averaging 9% annual interest. What is the value of his monthly payment?

Please provide Excel formulation calculation

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