To pay off 60000000 worth of new construction bonds when, Business Economics

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To pay off 60000000 worth of new construction bonds when

To pay off $60,000,000 worth of new construction bonds when they come due in 19 years, a water municipality must deposit money into a sinking fund. Payments to the fund will be made quarterly, starting 3 months from now. If the interest rate for the sinking fund is 9% compounded quarterly, how much will each deposit be?

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Business Economics: To pay off 60000000 worth of new construction bonds when

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