Mrs. Lyons has deposited $175,000 at 5.25% compounded quarterly. In 10 years, she plans to convert the accumulated amount into a perpetuity, in which she will receive the same amount at the end of each month. What is the maximum payment she can receive if the interest rate stays the same?

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The Answer of Mrs. Lyons has deposited $175,000 at 5.25% compounded quarterly. In 10 years, she plans to convert the accumulated amount into a perpetuity, in which she will receive the same amount at the end of each month. What is the maximum payment she can receive if the interest rate stays the same?

Mrs Lyons Has Deposited $175,000 at 5