Nick has calculated his retirement needs.  He would like to receive $1,000 per month for 20 years after retirement. His plan is to retire in 15 years.  He is trying to compute the amount he must put away now at 8% compounded semiannually to generate the sum needed for retirement.  After checking with some financial planners, he finds that the typical risk free interest he can expect to receive on his retirement income is about 7% compounded monthly. How much does Nick have to put away now ? solving these math details,please do not solve these math through excel

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