Question 2 of 3 - / 10 View Policies Current Attempt in Progress Alan Fowler...
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Question 2 of 3 - / 10 View Policies Current Attempt in Progress Alan Fowler borrowed $97,390 on March 1, 2018. This amount plus accrued interest at 6% compounded semiannually is to be repaid March 1, 2028. To retire this debt, Alan plans to contribute to a debt retirement fund five equal amounts starting on March 1, 2023, and for the next 4 years. The fund is expected to earn 5% per annum. Click here to view factor tables How much must be contributed each year by Alan Fowler to provide a fund sufficient to retire the debt on March 1, 2028? (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to O decimal places, e.g. 458,583.) Annual contribution to debt retirement fund $ e Textbook and Media Save for Later Attempts: 0 of 3 used Submit
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