DETAILS JMODD8 5.3.036. MY NOTES PRACTICE ANOTHER Fred and Melissa Furth's daughter Sally will be a freshman in college in six years. To help cover their extra expenses, the Furths decide to set up a sinking fund of $16,000. If the account pays 6.4% interest and they wish to make quarterly payments, find the size of each payment. (Round your answer to the nearest cent.) $ Need Help? Read H Watch