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Warren and Devante plan to send their daughter to university. To pay for this they will contribute equal monthly payments to an account bearing interest

Warren and Devante plan to send their daughter to university. To pay for this they will contribute equal monthly payments to an account bearing interest at an annual rate of 7.6%, compounded monthly. They will make these payments for 8 years.

Five years after their last contribution, they will begin the first of 60 monthly withdrawals of $2,830 to pay the university's installment bills.

How large must their monthly contributions be?

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