Question: Samuelson Engines wants to save $750,000 to buy some new equipment six years from now. The plan is to set aside an equal amount of

Samuelson Engines wants to save $750,000 to buy some new equipment six years from now. The plan is to set aside an equal amount of money at the end of each quarter (with the first deposit 90 days from today). The firm can earn 4.75 percent on its savings. How much does the firm have to save each quarter to achieve its goal? Please show how you got your answer.

A) $26,872.94

B) $26,969.70

C) $27,192.05

D) $27,419.29

E) $27,911.08

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