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You plan on retiring in exactly 4 0 years and you would like to have a retirement fund balance of exactly $ 2 , 0

You plan on retiring in exactly 40 years and you would like to have a retirement fund balance of exactly $2,000,000 at that time. You are convinced that you can earn an APR (based on monthly compounding) of 5.56%. If you are making end-of-the-month payments into the account, how much does each one of the payments need to be in order to reach your target?
To nearest $0.01

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