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Suppose you wish to retire at the age of 65 with $70,000 in savings. Determine your monthly payment into an IRA if the APR is

Suppose you wish to retire at the age of 65 with $70,000 in savings. Determine your monthly payment into an IRA if the APR is 8.5% compounded monthly and you begin making payments at 20 years old. Round your answer to the nearest cent, if necessary.

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