Question: Charles Fowler borrowed $ 9 5 , 5 3 0 on March 1 , 2 0 2 3 . This amount plus accrued interest at

Charles Fowler borrowed $95,530 on March 1,2023. This amount plus accrued interest at 12% compounded semiannually is to be repaid March 1,2033. To retire this debt, Charles plans to contribute to a debt retirement fund five equal amounts starting on March 1,2028, and for the next 4 years. The fund is expected. to earn 11% per annum.
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How much must be contributed each year by Charles Fowler to provide a fund sufficient to retire the debt on March 1,2033?(Round factor values to 5 decimal places, e.g.1.25124 and final answer to 0 decimal places, e.g.458,583.
Annual contribution to debt retirement fund $
 Charles Fowler borrowed $95,530 on March 1,2023. This amount plus accrued

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