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Problem 8. Sinking Funds. 10 points. Shanan is planning to retire in 25 years and wishes to withdraw $6000 per month for 25 years

Problem 8. Sinking Funds. 10 points. Shanan is planning to retire in 25 years and wishes to withdraw $6000 per month for 25 years from her retirement account starting at that time. How much must she contribute each month into a retirement account earning interest at the rate of 5.25% per year compounded monthly to meet her retirement goal? Solution:

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