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Brad pitt gave one of his dozen kids 200000 when she was

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Brad Pitt gave one of his dozen kids $200,000 when she was born. He told Pita that she had to leave the money invested until she was 21 and then she could get end of month payments for 10 years. Assume that the entire investment earned 8.75% compounded monthly, how much were Pita Pitt's monthly cheques?

Reference no: EM13584593

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