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A company upgrades its computer system once every 6 years and spends $9,300 each time. It must always be prepared for such large expense, and
A company upgrades its computer system once every 6 years and spends $9,300 each time. It must always be prepared for such large expense, and so what the company does is: it sets aside a fixed amount of money at the end of each quarter, into a bank account that pays 7% annual interest rate. When the time comes to pay for the computer system upgrades, it has just enough in that account! Calculate how much it sets aside each quarter. Do NOT put the "$" sign in your answer. Increase the decimal places for any intermediate calculations, and only round your final answer to TWO decimal places
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