Contribute per month to reach her goal

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Reference no: EM132028570

Monica has decided that she wants to build enough retirement wealth that, if invested at 8 percent per year, will provide her with $5,300 of monthly income for 25 years. To date, she has saved nothing, but she still has 30 years until she retires. How much money does she need to contribute per month to reach her goal? (Do not round intermediate calculations. Round your final answer to 2 decimal places.)

Reference no: EM132028570

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