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Yoko wants to save money to buy a motorcycle. She invests in an ordinary annuity that earns 7.2% interest, compounded monthly. Payments will be
Yoko wants to save money to buy a motorcycle. She invests in an ordinary annuity that earns 7.2% interest, compounded monthly. Payments will be made at the end of each month. How much money will she need to pay into the annuity each month for the annuity to have a total value of $7000 after 5 years? Do not round intermediate computations, and round your final answer to the nearest cent. If necessary, refer to the list of financial formulas. $0 X
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