A corporation creates a sinking fund in order to have $700,000 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 8.7% compounded monthly? (Round your answers to the nearest cent.) How much interest would they earn over the life of the account? $ Determine the value of the fund after 2,4 , and 6 years. 2 years $ 4 years $ 6 years $ How much interest was earned during the third month of the 4 th year? A corporation creates a sinking fund in order to have $700,000 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 8.7% compounded monthly? (Round your answers to the nearest cent.) How much interest would they earn over the life of the account? $ Determine the value of the fund after 2,4 , and 6 years. 2 years $ 4 years $ 6 years $ How much interest was earned during the third month of the 4 th year