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Your company must make a $ 3 5 5 , 0 0 0 balloon payment on a lease 2 years and 9 months from today.

Your company must make a $355,000 balloon payment on a lease 2 years and 9 months from today. You have been directed to deposit an amount of money quarterly, beginning today, to provide for the $355,000 payment. The account pays 4% per year, compounded quarterly. What is the required quarterly deposit? Note: Lease payments are due at the beginning of the quarter.
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