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Leon Fowler borrowed $96,970 on March 1, 2018. This amount plus accrued interest at 10% compounded semiannually is to be repaid March 1, 2028. To

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Leon Fowler borrowed $96,970 on March 1, 2018. This amount plus accrued interest at 10% compounded semiannually is to be repaid March 1, 2028. To retire this debt, Leon plans to contribute to a debt retirement fund five equal amounts starting on March 1, 2023, and for the next 4 years. The fund is expected to earn 9% per annum. Click here to view factor tables How much must be contributed each year by Leon Fowler to provide a fund sufficient to retire the debt on March 1, 20287 (Round factor values to 5 decimal places, eg. 1.25124 and final answer to 0 decimal places, eg 458,583) Annual contribution to debt retirement fund 32571

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