Can someone please just give me the right answer to the right decimal places for the last part, "How much interest was earned during the third quarter of the 4th year?" I've received more than 5 wrong answers already. 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?$264439.07 $
Can someone please just give me the right answer to the right decimal places for the last part, "How much interest was earned during the third quarter of the 4th year?" I've received more than 5 wrong answers already. 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?$264439.07 $
Financial Accounting: The Impact on Decision Makers
10th Edition
ISBN:9781305654174
Author:Gary A. Porter, Curtis L. Norton
Publisher:Gary A. Porter, Curtis L. Norton
Chapter9: Current Liabilities, Contingencies, And The Time Value Of Money
Section: Chapter Questions
Problem 9.21MCE
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Can someone please just give me the right answer to the right decimal places for the last part, "How much interest was earned during the third quarter of the 4th year?" I've received more than 5 wrong answers already.
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?
$264439.07
$
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