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You must make a payment of $143,202 ten years from today. In order to prepare for this payment, you will make 5 equal deposits, beginning

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You must make a payment of $143,202 ten years from today. In order to prepare for this payment, you will make 5 equal deposits, beginning today and for the next 4 quarters in a bank that pays a nominal interest rate of 12 percent per year compounded quarterly. The accumulated amount at the end of the fifth quarter will be left in the account until the payment date at the end of ten years from now when the balance in the account should have grown to $143,202. How large must each of the 5 equal deposits be rounded to the nearest dollar? Select one: a. $9.307 b. $5,089 c. $3,580 d. $8,099 e. $7.586

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