K A car dealership wants to build a new showroom costing $3,100,000. It set up a sinking fund with end-of-the month payments in an account earning 12% compounded monthly. Find the amount that should be deposited in this fund each month if the dealership wishes to build the showroom in (a) 1 year and (b) 2 years. Click on the icon to view page 1 of the sinking fund table. Click on the icon to view page 2 of the sinking fund table. (a) For a 1-year sinking fund, each periodic payment is approximately $. (Round to the nearest cent as needed.).

Clck on the icoen to view page 1 of the sinking fund tatile: Click on the icon to view page 2 of the sining fund tabile. (a) For a 1-year sinking fund, each seriske payment is approwmbley 1 (PRound to vere nearest cent as nebded)