annuties and sinking found,

Question

A condominium association decided to set up a sinking fund to accumulate $90,000 by the end of 5 years to build a new sauna and swimming pool. What quarterly deposits are required if the annual interest rate is 4.2% and it is compounded quarterly? (Round your final answer to two decimal places.)

Answer 1

add $ eech quarter for 5 yeers, get 4.5%

me ran it with add=100$ & got hav=2,235.88$

if yu want 90,000$...90000/2235.88=40.2526

so yu need tu add 4,0253 $ eech quarter