A community college has estimated that it needs 480000 in 5, Finance Basics

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A community college has estimated that it needs 480000 in 5

Question: A community college has estimated that it needs $480,000 in 5 years to remodel their student gym. To save for the estimating remodeling costs, they decide to make payments into an account at the end of each quarterly period. Find the amount of each payment assuming an interest rate of 4.8% compounded quarterly.

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Finance Basics: A community college has estimated that it needs 480000 in 5

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