The Sanchez family wants to save money to travel the world. They plan to invest...
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Accounting
The Sanchez family wants to save money to travel the world. They plan to invest in an ordinary annuity that earns 2.4% interest, compounded monthly. Payments will be made at the end of each month. How much money do they need to pay into the annuity each month for the annuity to have a total value of $14,000 after 13 years? Do not round intermediate computations, and round your final answer to the nearest cent, if necessary, refer to the list of financialfomulas
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