How much money must she deposit if her money earns 8, Financial Management

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How much money must she deposit if her money earns 8

Cheryl Wilcox is planning for her retirement, so she is setting up a payout annuity with her bank. She wishes to receive a payout of $1,400 per month for twenty years. (a) How much money must she deposit if her money earns 8% interest compounded monthly? (Round your answer to the nearest cent.) $

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