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The town of Escalon is issuing 1 0 - year savings bonds so that they can build a new hospital. When the bonds mature, the
The town of Escalon is issuing year savings bonds so that they can build a new hospital. When the bonds mature, the town will owe $ to the bondholders.
How much will the town need to deposit each quarter into a savings account with an APR of in order to have enough to pay the bondholders upon maturity?
Quarterly deposit:
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