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The town of Escalon is issuing 10-year savings bonds so that they can build a new hospital. When the bonds mature the town will

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The town of Escalon is issuing 10-year savings bonds so that they can build a new hospital. When the bonds mature the town will owe $3,250,000 to the bondholders. How much will the town need to deposit each quarter into a savings account with an APR of 2.25% in order to have enough to pay the bondholders upon maturity? Round your answer to 2 decimal places.

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