2. A Firm needs to replace most of its machinery in five years at a...
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Accounting
2. A Firm needs to replace most of its machinery in five years at a cost of $500,000. The company wishes to create a sinking fund to have this money available in five years. How much should the quarterly deposits be if the fund earns 8%?
Use MS-Excel to illustrate the accumulation of funds over the five year period.
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