Question: CorBloc Ltd. is setting up a fund to pay back a $22,000,000 debt in 18 years. To accumulate this money they will make equal annual

CorBloc Ltd. is setting up a fund to pay back a $22,000,000 debt in 18 years. To accumulate this money they will make equal annual deposits at the beginning of each year.Into a fund earning 9% compounded quarterly.

What will be the size of the annual deposits?

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