Ambleside Golf Clubs board of directors has set next years membership fee at $1900, payable at the

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Ambleside Golf Club’s board of directors has set next year’s membership fee at $1900, payable at the beginning of the year. The board has instructed its accountant to calculate beginning-of-quarter and beginning-of-month payment plans that provide a 15% semiannually compounded rate of return on the unpaid balance of the annual fee. What will be the amounts of the quarterly and monthly payments?
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