A corporation creates a sinking fund in order to have $640,000 to replace some machinery in 8 years. How much should be placed in this account at the end of each quarter if the annual interest rate is 6.1% compounded quarterly? (Round your answers to the nearest cent.) $11731.10 X How much interest would they earn over the life of the account? $ 170756.04 X Determine the value of the fund after 2, 4, and 6 years. 2 years $99013.71 x 4 years $210771.88 X 6 years $336914.93 X How much interest was earned during the third quarter of the 4th year? $

A corporation creates a sinking fund in order to have $640,000 to replace some machinery in 8 years. How much should be placed in this account at the end of each quarter if the annual interest rate is 6.1% compounded quarterly? (Round your answers to the nearest cent.) $11731.10 X How much interest would they earn over the life of the account? $ 170756.04 X Determine the value of the fund after 2, 4, and 6 years. 2 years $99013.71 x 4 years $210771.88 X 6 years $336914.93 X How much interest was earned during the third quarter of the 4th year? $

Financial Accounting Intro Concepts Meth/Uses

14th Edition

ISBN:9781285595047

Author:Weil

Publisher:Weil

ChapterA: Appendix - Time Value Of Cash Flows: Compound Interest Concepts And Applications

Section: Chapter Questions

Problem 23E

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