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In the following ordinary annuity, the interest is compounded with each payment, and the payment is made at the end of the compounding period. Find

In the following ordinary annuity, the interest is compounded with each payment, and the payment is made at the end of the compounding period.

Find the required payment for the sinking fund. (Round your answer to the nearest cent.)

Monthly deposits earning5%to accumulate$6000after 10 years.

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