You are managing the investments of a pension fund. You have to make a payment to your customer in 6 months. The amount of the payment is equal to $1,500,000. How much do you have to invest each month, starting next month, for 5 months to exactly provide for the payments if your investments earn 7.00% APR (compounded monthly)? $303,645 $305,119 $283,462 $294,801