Please solve #2 and #6 A corporation creates a sinking fund in order to have $860,000 to replace some machinery in 11 years. How much should be placed in this account at the end of each quarterif the annual interest rate is 6.5% compounded quarterly? (Round your answers to the nearest cent.)$ 2. 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 $ 6. How much interest was earned during the third quarter of the 4th year?$
Please solve #2 and #6 A corporation creates a sinking fund in order to have $860,000 to replace some machinery in 11 years. How much should be placed in this account at the end of each quarterif the annual interest rate is 6.5% compounded quarterly? (Round your answers to the nearest cent.)$ 2. 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 $ 6. How much interest was earned during the third quarter of the 4th year?$
Chapter4: Time Value Of Money
Section: Chapter Questions
Problem 28P
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Please solve #2 and #6
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.)
$
2. 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 | $ |
6. How much interest was earned during the third quarter of the 4th year?
$
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