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Find the amount of each payment to be made into a sinking fund earning 7% compounded monthly to accumulate $20,000 over 8 years. Payments are

Find the amount of each payment to be made into a sinking fund earning 7% compounded monthly to accumulate $20,000 over 8 years. Payments are made at the end of each period. The payment size is SIN (Round to the nearest cent.)

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