[-11 Points]\ TANFIN 12 5.3.032.\ The manegement of Gibroltar Brokerage Services anticipates a capital expenditure of

$27,000

in 4 years for the purchase of new computers and has decided to set up a sinking fund to finance this purchase. If the fund earns interest at the rate of

3(%)/(y)ear

compounded quarterly, determine the size of each (equal) quarterly instaliment that should be deposited in the fund. (Round your answer to the nearest cent.)

The manegement of Gibroltar Brokerage Services anticipates a capital expenditure of $27,000 in 4 years for the purchase of new computers and has size of each (equal) quarterly instaliment that should be deposited in the fund. (Round your answer to the nearest cent.)