A corporation creates a sinking fund in order to have $880,000 to replace some machinery in 9 years. How much should be placed in this account at the end of each quarter if the annual interest rate is 7.9% 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 7th year?

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A: Given:

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