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Frank would like to have $1,000,000 in his brokerage account when he retires 25 years from today. His account currently has a balance of $25,000.

Frank would like to have $1,000,000 in his brokerage account when he retires 25 years from today. His account currently has a balance of $25,000. Assume that he would like to make equal monthly deposits starting next month into his account in order to achieve his goal. If his account yields 10.2% compounded monthly, what must be the amount of his monthly deposits?

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