1. 0/1.11 points Previous Answers TanFin10 5.3.031. 3/6 Submissions Used D My Notes Andrea, a set employed individual, wishes to accumulate a retirement fund of $700,000, How much should she deposit each month into her retirement account, which pays interest at a rate of 3.5%/year compounded monthly, to reach her goal upon retirement 45 years from now? (Round your answer to the nearest cent.) -/1.11 points 2. 0/6 Submissions Used A My Notes A corporation creates a sinking fund in order to have $620,000 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 8% 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 $ years $ 3. 0/1.11 points Previous Answers 3/6 Submissions Used O My Notes Carl is the beneficiary of a s28,000 trust fund set up for him by his grandparents. Under the terms of the trust, he is to receive equal instaliments from this fund at the end of each year over a S-year period. Ir the fund earns interest at the rate of 8%/year compounded annually, what amount will he receive each year? Assume that the balance in the fund is zero after the last instaliment is recelved. (Round your answer to the nearest cent.)