Question: Current Attempt in Progress Morgan borrowed $220.000 on March 1.2023. This amount plus acerued interest at 12% compounded semiannually is to be repaid March 1,

Current Attempt in Progress Morgan borrowed $220.000 on March 1.2023. This amount plus acerued interest at 12% compounded semiannually is to be repaid March 1, 2033. To retire this debt, Morgan plans to contribote to a debt retirement fund five equal amounts starting on March 1, 2028. and for the next four years. The fund is expected to earn 10% per annum. Click here to view tactor tables How much must Morean contribute each year to provide a fund sutficient to retire the debt on March 1, 2033? (Round factor values to 5 decimol ploces, es. 1.25124 and fnal answer to 2 decimal ploces, es. 4.585.83.) Annual contribution to debt retirement fund $

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