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Your goal is to have $500,000 in 26 years. Given a 7% annual return, if you fund the account once every year with fixed payments

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Your goal is to have $500,000 in 26 years. Given a 7% annual return, if you fund the account once every year with fixed payments (with the first being one year from now; i.e., 26 payments from time nodes 1 to 26), how much would each payment have to be? Note: Show your answer in units of dollars, use plain numbers with at least two digits after the decimal (e.g., for $12,345.6789, type 12345.68)

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