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Paul and Donna Kelsch are planning a Mediterranean cruise in 3 years and will need $ 5 , 5 0 0 for the trip. They
Paul and Donna Kelsch are planning a Mediterranean cruise in years and will need $ for the trip. They decide to set up a "sinking fund" savings account for the vacation. They intend to make regular payments at the end of each month period into the account that pays interest compounded quarterly. What periodic sinking fund payment in $ will allow them to achieve their vacation goal? Round your answer to the nearest cent.
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