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Hensley Industries has just started to deposit $300 at the end of each month into its employees' retirement fund (i.e., the first deposit will take

Hensley Industries has just started to deposit $300 at the end of each month into its employees' retirement fund (i.e., the first deposit will take place one month from now). These deposits will continue for each employee until they retire. Wyja Doit, an employee at Hensley Industries is planning to retire in 20 years. When she retires, Wyja would like to withdraw $5,000 per month (at the end of the month) from her retirement account for the following 10 years. If Wyja currently has $156,375 invested and she can earn 3.96% APR, compounded monthly on all money invested.


How much will she need to put into the account at the end of each month for the next 20 years to have enough money to retire and make the withdrawals as planned?

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