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Jose opens an Individual Retirement Account (IRA) that promises to pay 11.25% compounded monthly. He initially deposits a $100 check into the account to get

Jose opens an Individual Retirement Account (IRA) that promises to pay 11.25% compounded monthly. He initially deposits a $100 check into the account to get the account open and active. What would his payments have to be each month in order to have a balance of $950,000 in 30 years? Round your answer to the nearest cent.

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