A​ woman, with her​ employer’s matching​ program, contributes ​$800 at the end of each month to her retirement​ account, which earns 8​% ​interest, compounded monthly.

A​ woman, with her​ employer’s matching​ program, contributes ​$800 at the end of each month to her retirement​ account, which earns 8​% ​interest, compounded monthly. When she retires after 41 ​years, she plans to make monthly withdrawals for 30 years. If her account earns 5​% ​interest, compounded​ monthly, then when she​ retires, what is her maximum possible monthly withdrawal​ (without running out of​ money)? The maximum possible monthly withdrawal is approximately ​ ​(Simplify your answer. Round to the nearest cent as​ needed.)

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