Question

Asked Oct 22, 2019

196 views

A corporation creates a sinking fund in order to have $860,000 to replace some machinery in 11 years. How much should be placed in this account at the end of each quarterif the annual interest rate is 6.5% compounded quarterly? (Round your answers to the nearest cent.)

$

How much interest would they earn over the life of the account?

$

Determine the value of the fund after 2, 4, and 6 years.

2 years | $ | |

4 years | $ | |

6 years | $ |

How much interest was earned during the third quarter of the 4th year?

$

Step 1

Hello. Since your question has multiple sub-parts, we will solve first three sub-parts for you. If you want remaining sub-parts to be solved, then please resubmit the whole question and specify those sub-parts you want us to solve.

Now come to the question:

According to the given question:

**Amount (A) =$860,000**

**Time (t) =11 years**

**Rate of interest(r) =6.5%**

It is needed to calculate the amount to be placed at the end of each quarter and the interest earned over the life of the account.

Step 2

Formula used to calculate amount that is compounded quarterly is:

Step 3

Now substitute the value...

Tagged in

Q: A fair coin is flipped 5 times. Find the probability that heads was flipped exactly 3 times

A: According to the given information:Number of times a coin flipped=5So, the total number of outcomes ...

Q: If a recipe calls for 2 gallons of fresh hulled strawberries, how many pounds should you use?

A: Recall the following fact.

Q: 5*. Suppose that 0: G -+ H is a homomorphism. Prove that (a) (a")= (x)" for all positive integers n....

A: To prove the properties of group homomorphisms

Q: 16

A: By Lagrange's Theorem, |K| divides |H|, since K is a proper subgroup of H. Given that |K| = 42, and ...

Q: A bag of flour has 42 pounds 8 ounces remaining in it. You estimate that you have used 15 percent of...

A: To determine the original amount (in pounds) under the given conditions

Q: What is the inverse of f(x) =6x^3+8 ?

A: Given:

Q: 4 3 1 Compute det (A- B)c) 2. Let A 2 2 1

A: Obtain the matrix A – B.

Q: #8

A: From the given information:u, v , w are the three vectors in R3. So let,

Q: History of math question dealing with projective geometry need help on please

A: To identify the lines corresponding to the two points at infinity of the given hyperpola