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Debra wants to save money to buy a motorcycle. She invests in an ordinary annuity that earns 7.8% interest, compounded quarterly. Payments will be made
Debra wants to save money to buy a motorcycle. She invests in an ordinary annuity that earns 7.8%
interest, compounded quarterly. Payments will be made at the end of each quarter. How much money will she need to pay into the annuity each quarter for the annuity to have a total value of $6000
after 6 years?
Do not round intermediate computations, and round your final answer to the nearest cent.
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