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To pay off $50,000,000 worth of new construction bonds when they come due in 20 years, a water municipality must deposit money into a sinking

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To pay off $50,000,000 worth of new construction bonds when they come due in 20 years, a water municipality must deposit money into a sinking fund. Payments to the fund will be made quarterly, starting at the end of the next quarter. If the interest rate for the sinking fund is 5% compounded quarterly, how much the municipality deposit each quarter? Round your answer to the nearer dollar

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