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Your employer contributes to your retirement account on a quarterly basis. Your employer has promised to deposit enough money, starting one quarter from now, so
Your employer contributes to your retirement account on a quarterly basis. Your employer has promised to deposit enough money, starting one quarter from now, so that you can have $200,000 in this account in exactly 12 years. What equal, end-of-quarter amount must your employer put into the account for the next years to meet its commitment? Use an interest rate of 6.00% per year in your calculations. Round answer to nearest dollar.
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