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American Cruises wants to purchase a new ship costing $6,000,000 in 5 years. If the company sets up a sinking fund that can earn 7%

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American Cruises wants to purchase a new ship costing $6,000,000 in 5 years. If the company sets up a sinking fund that can earn 7% compounded semiannually, what amount must the company deposit at the end each semiannual period to realize its goal? a $511, 448.21 b $721, 488.21 c. $1, 186,081.43 d $1, 211,081.43

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