What will the quarterly deposit be

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Reference no: EM131913378

A local Dunkin’ Donuts franchise must buy a new piece of equipment in 5 years that will cost $88,000. The company is setting up a sinking fund to finance the purchase. What will the quarterly deposit be if the fund earns 8% interest? (Do not round intermediate calculations. Round your answer to the nearest cent.)

Quarterly deposit $

Reference no: EM131913378

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