Question: The Math department also purchased a printer. After 4 years, it will have a salvage value of $300. A new printer is expected to cost

The Math department also purchased a printer. After 4 years, it will have a salvage value of $300. A new printer is expected to cost $1300. The department established a sinking fund in order to provide money for the difference between the cost and the salvage value. If the fund earns 6% compounded semiannually, determine the size of payments.

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