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Harlan made equal payments at the end of each month into his RRSP. If interest in his account is 5.5% compounded annually, and the balance
Harlan made equal payments at the end of each month into his RRSP. If interest in his account is 5.5% compounded annually, and the balance after twelve years is $16,000, what is the size of the monthly payment? The size of the monthly payment is (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
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