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Plans are in place to install a new pool in the backyard in seven years. The cost of the pool is $120,000 and you are

Plans are in place to install a new pool in the backyard in seven years. The cost of the pool is $120,000 and you are going to start saving for this investment. If you are earning 8.0% annually on deposits how much does the annual payment need to be to reach the goal of $120,000. (Round to two decimals)

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