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An investment banker would like to receive $1,800 at the beginning of every 3 months from her investment fund for a period of 12 years.

An investment banker would like to receive $1,800 at the beginning of every 3 months from her investment fund for a period of 12 years. The fund is earning 5.7% compounded quarterly. Calculate the amount of money she should deposit if the first payment is to be received in 3 years and 9 months.

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