Alan Fowler borrowed 96,970 on March 1, 2018. This amount plus accrued interest at 10% compounded semiannually is to be repaid March 1, 2028. To retire this debtAlan plans to contribute to a debt retirement five equal amounts starting on March 1 2023. and for the next years. The tund is expected to earn 9% 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?

View Policies Show Attempt History Current Attempt in Progress Alan Fowler borrowed $96,970 on March 1, 2018. This amount plus accrued interest at 10% 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 9% 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 decimal places, e.g. 458,583.) Annual contribution to debt retirement fund $ e Textbook and Media Save for Later Attempts: 1 of 3 used Submit