Question: ABC Development, Inc. plans to raise $ 7 2 5 , 0 0 0 over a 5 - year period so they can purchase a

ABC Development, Inc. plans to raise $725,000 over a 5-year period so they can purchase a piece of heavy equipment. In order to obtain this amount, the company has decided to make semiannual investments into a sinking fund that will earn 4% per year compounded semiannually for the next 5 years. Using the sinking fund table, calculate the amount of each semiannual sinking fund payment required to raise $725,000 in 5 years.
ABC Development, Inc. plans to raise $725,000 over a 5-year period

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