A corporation creates a sinking fund in order to have $920,000 to replace some machinery in...

A corporation creates a sinking fund in order to have $920,000 to replace some machinery in 12 years. How much should be placed in this account at the end of each quarter if the annual interest rate is 8.3% compounded quarterly?

(Round your answers to the nearest cent.) $

How much interest would they earn over the life of the account? $

Determine the value of the fund after 2, 4, and 6 years.

2 years $

4 years $

6 years $

Expert Solution

jeff jeffy answered 2 years ago

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