Fatima's parents wish to set up a fund for her to withdraw $100 from every month for the 4 years she is away at school. How much must they invest at the beginning the four years, into an account that pays 1.98% interest compounded monthly, to sustain these payments?
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Fatima's parents wish to set up a fund for her to withdraw $100 from every month for the 4 years she is away at school. How much must they invest at the beginning the four years, into an account that pays 1.98% interest compounded monthly, to sustain these payments?
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