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John wishes to accumulate a sum of $500,000 in a retirement account by the time of his retirement 25 years from now. If he wishes

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John wishes to accumulate a sum of $500,000 in a retirement account by the time of his retirement 25 years from now. If he wishes to do this through monthly payments into the account that earn interest at the rate of 7.2%/year compounded monthly, what should be the size of each pavment

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