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Brian Milner borrowed $$141,600$ on July $1,2025.$ This amount plus accrued interest at $6\%$ compounded semiannually is to be repaid in

total on July $1,2030.$ To retire this debt, Milner plans to contribute to a debt retirement fund $5$ equal amounts starting on July $1,2025$

and continuing for the next four years. The fund is expected to earn $4\%$ per annum.

Compute how much must be contributed each year by Brian Milner to provide sufficient funds to retire the debt on July $1,2030?$

$($Round factor values to $5$ decimal places, e$.$g$.1\mathrm{.}25124$ and final answer to $2$ decimal places, eg$.458,581\mathrm{.}50.)$

Amount to be contributed

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Brian Milner borrowed $$141,600$ on July $1,2025.$ This amount plus accrued interest at $6\%$ compounded semiannually is to be repaid in

total on July $1,2030.$ To retire this debt, Milner plans to contribute to a debt retirement fund $5$ equal amounts starting on July $1,2025$

and continuing for the next four years. The fund is expected to earn $4\%$ per annum.

Compute how much must be contributed each year by Brian Milner to provide sufficient funds to retire the debt on July $1,2030?$

$($Round factor values to $5$ decimal places, e$.$g$.1\mathrm{.}25124$ and final answer to $2$ decimal places, eg$.458,581\mathrm{.}50.)$

Amount to be contributed

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