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Determine the size of each quarterly deposit in the fund

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Reference no: EM132761303

Problem 1: Lowell Corporation wishes to establish a sinking fund to retire a $200,000 debt that is due in 10 years. If the investment will earn interest at the rate of 9% per year compounded quarterly, determine the size of each (equal) quarterly deposit in the fund.

Reference no: EM132761303

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