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6. If a series of payments is made to create a sum at the end of a period, such a sum is called a sinking

6. If a series of payments is made to create a sum at the end of a period, such a sum is called a sinking fund. What is the accumulated amount after 20 years of $5000 annual payments at an interest rate of 8% compounded quarterly? What is it for 8% compounded semi-annually?

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