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Suppose payments were made at the end of each month into an ordinary annuity earning interest at the rate of 7%/year compounded monthly. If the

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Suppose payments were made at the end of each month into an ordinary annuity earning interest at the rate of 7%/year compounded monthly. If the future value of the annuity after 15 yr is $70,000, what was the size of each payment? (Round your answer to the nearest cent.) $

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