Mathematics, 28.08.2020 22:01, tiannaetzel

Paul and Donna Kelsch are planning a Mediterranean cruise in 3 years and will need $9,500 for the trip. They decide to set up a "sinking fund" savings account for the vacation. They intend to make regular payments at the end of each 3 month period into the account that pays 6% interest compounded quarterly. What periodic sinking fund payment (in $) will allow them to achieve their vacation goal? (Round your answer to the nearest cent.)

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Paul and Donna Kelsch are planning a Mediterranean cruise in 3 years and will need $9,500 for the tr...