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SINKING FUNDS The management of Gibraltar Brokerage Services anticipates a capital expenditure of $20,000 in 3 years for the purchase of new computers and has

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SINKING FUNDS The management of Gibraltar Brokerage Services anticipates a capital expenditure of $20,000 in 3 years for the purchase of new computers and has decided to set up a sinking fund to finance this purchase. If the fund earns interest at the rate of 10%/year compounded quarterly. determine the size of each (equal) quarterly installment that should be deposited in the fund

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