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Ipek is planning to retire in 20 years. She wishes to deposit a regular amount every quarter until she retires so that, beginning one year

Ipek is planning to retire in 20 years. She wishes to deposit a regular amount every quarter until she retires so that, beginning one year following her retirement, she will receive annual payments of $15,500 for the next 10 years. How much must she deposit if the interest rate is 8% compounded monthly?

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