To payoff 40000000 worth of new construction bonds when, Financial Management

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To payoff 40000000 worth of new construction bonds when

To payoff $40,000,000 worth of new construction bonds when they come due in 20 years, a water municipality must deposit money into a sinking fund. Payments to the fund will be made quarterly, starting three months from now. If the interest rate for the sinking fund is 8% compounded quarterly, how much will each deposit be?

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Financial Management: To payoff 40000000 worth of new construction bonds when

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