How much (in dollars) is needed in an account that earns 9.6% compounded monthly to withdraw $1,000 at the end of each month for 30 years? (Round your answer to two decimal places.)

EBK CONTEMPORARY FINANCIAL MANAGEMENT
14th Edition
ISBN:9781337514835
Author:MOYER
Publisher:MOYER
Chapter5: The Time Value Of Money
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How much (in dollars) is needed in an account that earns 9.6% compounded monthly to withdraw $1,000 at the end of each month for 30 years? (Round your answer to two decimal places.)

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