A company establishes a sinking fund to cover planned maintenance, budgeting for $50,000 in 10 years. This fund will require payments of $1018 each quarter in an account that earns 4.1% interest.

a. What is the total amount deposited by the company in this annuity?

b. How much interest did the annuity earn over the 10 years?

c. If the total amount deposited had been invested as a one-time deposit with the same interest rate, how much would the account be worth after 10 years? d. What one-time deposit would be required in an account with the same interest rate to cover the planned maintenance costs?