9. [-11 Points] DETAILS TANFIN 12 5.R.026. MY NOTES PRACTICE ANOTHER Mai Lee has contributed $250 at the end of each month into her company's employee retirement account for the past 10 years. Her employer has matched her contribution each month. If the account has earned interest at the rate of 5%/year compounded monthly over the 10-year period, determine how much Mai Lee now has in her retirement account. (Round your answer to the nearest cent.) $ Need Help? Read It 10. [0/1 Points] DETAILS PREVIOUS ANSWEns TANFIN12 5.R.031. MY NOTES PRACTICE ANOTHER The management of a corporation anticipates a capital expenditure of $300,000 in 5 years for the purpose of purchasing replacement machinery. To finance this purchase, a sinking fund that earns interest at the rate of 5%/year compounded quarterly will be set up. Determine the amount of each (equat) quarterly.installment that should be deposited in the fund. (Assume that the payments are made at the end of each quarter. Round your answer to the nearest cent.) $ Need Help? Read It Submit