How much interest would they earn over

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A corporation creates a sinking fund in order to have $870,000 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 8.7% 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 $

Reference no: EM131769846

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