Alan borrowed $300,000 on March 1, 2023. This amount plus accrued interest at 12% compounded...
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Alan borrowed $300,000 on March 1, 2023. This amount plus accrued interest at 12% compounded semiannually is to be repaid March 1, 2033. To retire this debt, Alan plans to contribute to a debt retirement fund five equal amounts starting on March 1, 2028, and for the next four years. The fund is expected to earn 10% per annum. Click here to view factor tables How much must Alan contribute each year to provide a fund sufficient to retire the debt on March 1, 2033? (Round factor values to 5 decimal places, e.g. 1,25124 and final answer to 2 decimal places, e.g. 4,585.83.) 
Current Attempt in Progress Alan borrowed $300000 on March 1. 2023. This amount plus accrued interest at 12% compounded semiannually is to be repaid March 1,2033. Toretire this debt, Alan plans to contribute to a debt retirement fund frve equal amounts starting on March 1. 2028, and for the next four years. The fund is expected to earn 10% h per annum. Click here to view factor tables How much murt Alan contribute each year to provide a fund sufficient to retire the debt on March 1, 2033? (Round factor values to 5 decimal ploces, es. 1.25124 and fingl answer to 2 decimel ploces, es. 4,585.83. Annuktcontribution to debt retirement fund 5
Alan borrowed $300,000 on March 1, 2023. This amount plus accrued interest at 12% compounded semiannually is to be repaid
March 1, 2033. To retire this debt, Alan plans to contribute to a debt retirement fund five equal amounts starting on March 1, 2028,
and for the next four years. The fund is expected to earn 10% per annum.
Click here to view factor tables
How much must Alan contribute each year to provide a fund sufficient to retire the debt on March 1, 2033? (Round factor values to 5
decimal places, e.g. 1,25124 and final answer to 2 decimal places, e.g. 4,585.83.)
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