Question: Question 5 View Policies Current Attempt in Progress Leon Fowler borrowed $94640 on March 1, 2015. This amount plus accrued interest at 12% compounded semiannually

Question 5 View Policies Current Attempt in Progress Leon Fowler borrowed $94640 on March 1, 2015. This amount plus accrued interest at 12% compounded semiannually is to be repaid March 1, 2025. To retire this debt, Leon plans to contribute to a debt retirement fund five equal amounts starting on March 1, 2020, and for the next 4 years. The fund is expected to earn 11% per annum Click here to view factor tables How much must be contributed each year by Leon Fowler to provide a fund sufficient to retire the debt on March 1, 2025? (Round factor values to 5 decimal places, es 1.25124 and final answer to decimal places, es 458,583) Annual contribution to debt retirement fund $

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