Question

The city of Suburbia received a proposal for plant watering from Water Can Gardening Company. The company would water all city plants for $646 each quarter, increasing the amount charged by $12 each subsequent quarter. Water Can Gardening Company requires a 8-year commitment.

The mayor has asked you to calculate the equivalent uniform quarterly cost for the plant water service to help with budgeting. Use a nominal annual interest rate of 6%, compounded quarterly, to make the calculation.

Enter your answer as follows: 12345
Round your answer. Do not use a dollar sign ("$"), any commas (",") or a decimal point (".")