John Fowler borrowed $97,320 on March 1, 2018. This amount plus accrued interest at 6% compounded semiannually is to be repaid March 1, 2028. To retire this debt, John 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 5% per annum. Click here to view factor tables How much must be contributed each year by John Fowler to provide a fund sufficient to retire the debt on March 1, 2028?

can you please explain in details