A corporation creates a sinking fund in order to have $680,000 to replace some machinery in...

A corporation creates a sinking fund in order to have $680,000 to replace some machinery in 12 years. How much should be placed in this account at the end of each month if the annual interest rate is 3.7% compounded monthly? (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		$

How much interest was earned during the fourth month of the 5th year?

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