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A man is disabled in an accident and wants to receive an insurance payment that...

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Basic Math

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A man is disabled in an accident and wants to receive an insurance payment that will provide him with $2900 at the end of each month for 20 years. If the paymentcan be placed in an account that pays 9% compounded monthly, what size payment should he seek? He should seek a payment of $ (Simplify your answer. Round to the nearest cent as needed.)

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