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(A) Find the future value of an ordinary annuity of $6,000 paid quarterly for 3 years, if the interest rate is 8%, compounded quarterly. (Round
(A) Find the future value of an ordinary annuity of $6,000 paid quarterly for 3 years, if the interest rate is 8%, compounded quarterly. (Round your answer to the nearest cent.)
(B) A sinking fund is established to discharge a debt of $90,000 in 10 years. If deposits are made at the end of each 6-month period and interest is paid at the rate of 2%, compounded semiannually, what is the amount of each deposit? (Round your answer to the nearest cent.)
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