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Peter makes a deposit at the end of every month into a savings account that earns interest at 4.5% compounded monthly. He saves for 9

Peter makes a deposit at the end of every month into a savings account that earns interest at 4.5% compounded monthly. He saves for 9 years, and then converts his savings into an annuity that pays him $505 at the end of every month for 16 years. What size of the deposit he makes while he is saving?

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