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An engineering company expects to expand its plant facilities in 1 0 years at an estimated cost of $ 5 0 , 0 0 0
An engineering company expects to expand its plant facilities in years at an estimated cost of $ To provide for the expansion, a sinking fund has been established into which equal payments are made at the beginning of every months. Interest is compounded quarterly.
a What is the size of the quarterly payment?
b How much of the maturity value will be payments?
c How much interest will the fund contain?
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