Contribute per month to reach her goal

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Reference no: EM13915462

Monica has decided that she wants to build enough retirement wealth that, if invested at 10 percent per year, will provide her with $5,200 of monthly income for 20 years. To date, she has saved nothing, but she still has 25 years until she retires.

How much money does she need to contribute per month to reach her goal? (Do not round intermediate calculations and round your final answer to 2 decimal places.)

Contribute per month $

Reference no: EM13915462

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