Question: Mark Fowler borrowed $ 9 0 , 7 0 0 on March 1 , 2 0 2 3 . This amount plus accrued interest

Mark Fowler borrowed \$90,700 on March 1,2023. This amount plus accrued interest at \(8\%\) compounded semiannually is to be repaid March 1,2033. To retire this debt, Mark 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 5\% per annum.
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How much must be contributed each year by Mark 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
Mark Fowler borrowed \ $ 9 0 , 7 0 0 on March 1 ,

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