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4a) A corporation establishes a sinking fund to discharge a debt of $120,000 in 5 years. If deposits are made yearly at 6.2% compounded yearly,

4a) A corporation establishes a sinking fund to discharge a debt of $120,000 in 5 years. If deposits are made yearly at 6.2% compounded yearly, what is the amount of each deposit?

4b) How long will it take for a deposit of $5,000 to grow into $12,000 at 6% compounded yearly.

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