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You have been retained to put together a retirement plan for a friend. She gives you all of the following information: she is 50 years old and plans to retire at 60. She currently has $75,000 saved and can contribute approximately $10,000 at the end of every year until retirement. She expects to be able to grow that contribution amount by 5% each year. She expects to earn 10% during her working years and 6% during her retirement. If she thinks she will live until she is 80 years old and get paid monthly during retirement, what is the amount of her monthly payment? Ignore inflation.

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