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Alicia bought a newly issued $2,000 21% ten-year bond, redeemable at $2,100 and having yearly coupons. It was bought at a premium with a price
Alicia bought a newly issued $2,000 21% ten-year bond, redeemable at $2,100 and having yearly coupons. It was bought at a premium with a price of $2,600. Alicia immediately took a constant amount D from each coupon and deposited it in a savings account earning 6% effective annual interest, so as to accumulate the full amount of the premium by a moment after the final deposit. How much did Alicia deposit each year in the 6% account? (Round your answer to the nearest cent.)
D = $
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