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Lowell Corporation wishes to establish a sinking fund to pay off a $ 200,000 debt that is due in 10 years. If the investment will
Lowell Corporation wishes to establish a sinking fund to pay off a $ 200,000 debt that is due in 10 years. If the investment will earn 9% per year compounded quarterly, find the amount of the quarterly deposit that must be made to accumulate the required sum. Please show all work.
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