Find the periodic payments periodic monthly payment

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Reference no: EM131087684

Find the periodic payments PMT (periodic monthly payment) necessary to accumulate the amount given in a sinking fund. HINT [See Example 2.] (Assume end-of-period deposits and compounding at the same intervals as deposits. Round your answer to the nearest cent.)

$80,000 in a fund paying 7% per year, with monthly payments for 5 years

PMT=__________

Reference no: EM131087684

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