RECOMMENDED!!LAW 1101-Monica has decided that she wants to build enough

  

Monica has decided that she wants to build enough retirement wealth that, if invested at 8 percent per year, will provide her with $4,400 of monthly income for 20 years. To date, she has saved nothing, but she still has 25 years until she retires. How much money does she need to contribute per month to reach her goal? (Do not roundintermediate calculations and round your finalanswer to 2 decimal places.)

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