Question: A business sets up a sinking fund so they will have a $ 5 2 , 0 0 0 . 0 0 to pay for

A business sets up a sinking fund so they will have a $52,000.00 to pay for a replacement piece of equipment in 7 years when the current equipment will be sold for scrap. If they make deposits at the end of each month for 7 years in the investment that pays 6.3% compounded monthly, what size should each payment be?
The monthly payments are $.(Round to 2 decimal places.)

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