Holly Krech is planning for her retirement, so she is setting up a payout annuity with her bank. She wishes to receive a payout of $1,900 per month for twenty years. (a) How much money must she deposit if her money earns 7.8% interest compounded monthly? (Round your answer to the nearest cent.) ___________ $  (b) Find the total amount that Holly will receive from her payout annuity.   Thank you!

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A:

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A: Here,

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Q: d. Ja d. 1

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