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A company estimates that it will need $100,000 in 8 years to replace a computer. If it establishes a sinking fund by making fixed monthly

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A company estimates that it will need $100,000 in 8 years to replace a computer. If it establishes a sinking fund by making fixed monthly payments into an account paying 7.5% compounded monthly, how much should each payment be? (4 points)

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