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Collin and Devonte plan to send their son to university. To pay for this they will...

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Advance Math

Collin and Devonte plan to send their son to university. To payfor this they will contribute equal monthly payments to an accountbearing interest at an annual rate of 6.7%, compounded monthly.They will make these payments for 12 years.  Five yearsafter their last contribution, they will begin the first of 60monthly withdrawals of $3,830 to pay the university's installmentbills. How large must their monthly contributions be?

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