The management of Gibraltar Brokerage Services anticipates a capital expenditure of $21,000 in 2 years for replacing copy machines and has decided to set up a sinking fund to finance this purchase. If the fund earns interest at the rate of 11 %, compounded quarterly, determine the size of each quarterly deposit into the fund. A) $2,230.29 B) $2,388.30 C) $2,382.62

For the problem above, determine the amount of interest that Gibraltar Brokerage Services earned on the sinking fund. A) $1939.04 B) $9503.22 C) $1468.91