Question
A corporation creates a sinking fund in order to have $610,000 to replace some machinery in 11 years. How much should be placed in this
A corporation creates a sinking fund in order to have $610,000 to replace some machinery in 11 years. How much should be placed in this account at the end of each quarter if the annual interest rate is 4.9% compounded quarterly? (Round your answers to the nearest cent.)
$10544.14 How much interest would they earn over the life of the account? $ 146057.84 Determine the value of the fund after 2, 4, and 6 years.
2 years | $ 88059.78 | |
4 years | $ 185128.62 | |
6 years | $ 292128.22 |
How much interest was earned during the fourth quarter of the 7th year?
?
i cant figure out the last part. im using the Ti-84 finance application so please show me how to use it on that
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