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A corporation issues a RM2,800,000 piece of commercial paper that comes due in 2 years. If it sets up a sinking fund with an institution

A corporation issues a RM2,800,000 piece of commercial paper that comes due in 2

years. If it sets up a sinking fund with an institution that pays 9%, what will its

quarterly payment be? Set up a schedule showing the accumulation of the assets in

this sinking fund.

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