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Find the amount of each payment to be made into a sinking fund earning 7% compounded monthly to acoumulate $64,000 over 8 years. Payments are

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Find the amount of each payment to be made into a sinking fund earning 7% compounded monthly to acoumulate $64,000 over 8 years. Payments are made at the end of each period. The payment size is $ (Do not round until the final answer. Then round to the nearest cent.)

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