Question: Engineering Economy . . . . Please solve the correct answer A father wants to set up a bank account that will pay his daughter

Engineering Economy ....Please solve the correct answer A father wants to set up a bank account that will pay his daughter \(\$ 16,000\) at the end of quarter (EOQ)4 and \(\$ 30,000\) at \( E O Q 8\). He will fund this account by making quarterly payments of \(\$ X \) from EOQ 1 through EOQ 7. If the quarterly percentage rate is \(3\%\), what is the value of \(\$ X \) that must be deposited into the account?

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