Find the amount of each payment to be made into a sinking fund so that enough will be present to accumulate the following amount. Payments are made at the end of each period. The interest rate given is per period.$71,000; money earns 5% compounded quarterly for 4 years

A. $1003.38
B. $942.91
C. $4036.12
D. $1548.85


Answer: C

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