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Matthew Fowler borrowed $91,690 on March 1, 2023 , This amount plus accrued interest at 12% compounded semiannually is to be repaid March 1, 2033.

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Matthew Fowler borrowed $91,690 on March 1, 2023 , This amount plus accrued interest at 12% compounded semiannually is to be repaid March 1, 2033. To retire this debt, Matthew 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 11% per aninum. Click here to vew factor tables. How much mutbec contributed each year by Matthew Fowler to provide a fund sufficient to retire the debt on March 1, 2033? (Round factor values to 5 decimal ploces, es. 1.25124 and final answer to 0 decimal ploces. 8.458,583. Arinual conitribution to debt retirement fund

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