Question: A condominium association decided to set up a sinking fund to accumulate $ 6 0 , 0 0 0 by the end of 4 years

A condominium association decided to set up a sinking fund to accumulate $60,000 by the end of 4 years to build a new sauna and swimming pool. What quarterly deposits are required if the annual interest rate is 5.2% and it is compounded quarterly? (Round your final answer to two decimal places.)

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