sinking fund math

in order to invest 236,281.61 at age 65 you need to start saving at the age of 25 How much money would we need to put away monthly into an ordinary annuity that earns 12% compounded monthly in order to get to our goal?

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  1. 236281.61*.01/(1+.01)^480-1=20.08???

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  2. Not what is quarterly payment

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    posted by Kevin

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