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Find the size of the monthly payments that joe will receive

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Question - Joe won a lottery prize of $200,000. He invested the entire amount and expects a yearly return of 10% per annum compounded monthly on her investment. Joe will receive 150 equal monthly payments with the first payment due to be paid to her in exactly 2 years. Find the size of the monthly payments that Joe will receive.

Reference no: EM131928229

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