Question 15 1 points Save A person invests $450 to be collected in 8 yr. Given that the interest rate on the investment is 14.5W/yr compounded annually, most nearly what sum will be collected 8 yr from now? LO ECO $1240 $1050 $1130 $1330 1 points Save Question 16 The following schedule of funds is available to form a sinking fund. ILO ECO $5000 tely 54000 12 $3000 $2000 At the end of the fourth year, equipment costing $25,000 will have to be purchased as a replacement for old equipment. Money is valued at 20% by the company. Al the time of purchase, how much money will be needed? ILO: ECO $8200 $2000 $1000 $820