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Your organization is planning to purchase a new office building five years from now. The building will cost $3,000,000, have a useful life of 25

Your organization is planning to purchase a new office building five years from now. The building will cost $3,000,000, have a useful life of 25 years, and have no salvage value. If your organization puts aside $550,000 in an investment account with an annual interest rate of 3.75%, how much additional money must your organization deposit into the account at the end of each month in order to be able to purchase the building in exactly five years?

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