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David Fowler borrowed $91,860 on March 1, 2023. This amount plus accrued interest at 8% compounded semiannually is to be repaid March 1, 2033. To
David Fowler borrowed $91,860 on March 1, 2023. This amount plus accrued interest at 8% compounded semiannually is to be repaid March 1, 2033. To retire this debt. David plans to contribute to a debt retirement fund five equal amounts starting on March 1, 2028, and for the next 4 years. The fund is expected to earn 7% per annum. Click here to view factor tables: How much must be contributed each year by David Fowler to provide a fund sutficient to retire the debt on March 1. 2033? (Round foctor values to 5 decimal places, e.8. 1.25124 and final answer to 0 decimal places, e.8. 458.583.) Annuat contribution to debt retirement fund $
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