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Derek plans to retire on his 65th birthday. However, he plans to work part-time until he turns 72.00. During these years of part-time work, he

Derek plans to retire on his 65th birthday. However, he plans to work part-time until he turns 72.00. During these years

of part-time work, he will neither make deposits to nor take withdrawals from his retirement account. Exactly one year

after the day he turns 72.0 when he fully retires, he will begin to make annual withdrawals of $141.967.00 from his

retirement account until he turns 88.00. He he will make contributions to his retirement account from his 26th birthday

to his 65th birthday. To reach his goal, what must the contributions be? Assume a 8.00% interest rate.

Answer format: Currency: Round to: 2 decimal places.

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