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The management of Gibraltar Brokerage Services anticipates a capital expenditure of $ 2 4 , 0 0 0 in 3 years for the purchase of
The management of Gibraltar Brokerage Services anticipates a capital expenditure of $ in years for the purchase of new computers and has decided to set up a sinking fund to finance this purchase. If the fund earns interest at the rate of year compounded quarterly, determine the size of each equal quarterly installment that should be deposited in the fund.
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