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Last week, Bayonetta opened a new wealth management account at the Capital Bank of Noatun to begin saving for retirement. Today, Bayonetta deposited $ 4
Last week, Bayonetta opened a new wealth management account at the Capital Bank of Noatun to begin
saving for retirement. Today, Bayonetta deposited $ into her account. She then plans to make
equal deposits into the account every month for the next years thus Bayonetta will make a total of
equal deposits into her account with the first deposit to be made exactly one month from today
Exactly one month after her last deposit is made into the account, Bayonetta wants to withdraw
$ per month from the account for a total of years ie a total of withdrawals If
Bayonetta believes she will earn pa with monthly compounding on her account over the entire
deposit and withdrawal period, what is the minimum amount that she must deposit every month during
the deposit phase ie for months to to achieve her withdrawal goal?
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