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QUESTION

A company needs to set up a trust fund that will make payments (at the beginning of each quarter for the next fifteen years) to the native landowners...

A company needs to set up a trust fund that will make payments (at the beginning of each quarter for the next fifteen years) to the native landowners of a mining site in a developing country. If it deposits $1816546 into the trust fund and the fund earns interest of 7.3% p.a.compounded quarterly, how much will the landowners receive each quarter?

(Give your answer to the nearest cent, omitting the dollar sign)

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