4. New parents wish to save for their newborn's education and wish to have $36,000 at the end of 19 years. How much should the parents place at the end of each year into a savings account that earns an annual rate of 7.1% compounded annually? (Round your answers to two decimal places.) $ 953.27 How much interest would they earn over the life of the account? $ 17887.87 Determine the value of the fund after 11 years. $ 15126.05 How much interest was earned during the 11th year? $ I can't get this part

5. A corporation creates a sinking fund in order to have $620,000 to replace some machinery in 11 years. How much should be placed in this account at the end of each month if the annual interest rate is 4.7% compounded monthly? (Round your answers to the nearest cent.) $ 3595.95 How much interest would they earn over the life of the account? $ 145334.44 Determine the value of the fund after 2, 4, and 6 years.

2 years	90304.00	$
4 years	189490.13	$
6 years	298432.02	$

How much interest was earned during the second month of the 4th year? $ I don't understand this part