Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. a corporation creates a sinking fund in order to h

A corporation creates a sinking fund in order to have $360,000 to replace some machinery...

60.1K

Verified Solution

Question

Accounting

A corporation creates a sinking fund in order to have $360,000 to replace some machinery in 12 years. How much should be placed in this account at the end of each quarter if the annual interest rate is 7.8% 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.

How much interest was earned during the fourth quarter of the 6th year?

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Basic Math
1.2K views

estion 23 entence fragment is a grammatica sing choose all that apply

Chemistry
1.2K views

Equilibrium constants at 25 ?C are listed in the table below. Substance Kc Value of Kc CaCO3 Ksp 4.5�10?9 H2CO3 Ka1 4.3�10?7 Ka2 5.6�10?11 What is the molar...

Basic Math
1.2K views

I/ The following data are ACT test scores from a group of high school seniors: 30,...

Physics
1.2K views

When two waves with same frequency and constant phase difference interfere A there is a...

Basic Math
1.2K views

Aubrey recorded the low temperature in her home town each day for two weeks Her...

Basic Math
1.2K views

For a certain candy, 15% of the pieces are yellow, 15% are red, 20% are...

Algebra
1.2K views

graph Which graph represents the function of f x the quantity of 9 x squared...

Accounting
1.2K views

Partner Z of the XYZ partnership receives a liquidating distribution of the following: ...

Accounting
1.2K views

PROBLEM V (10%) Wally's Wallet World opened for business on Jan. 1,2017. During 2017 he...

Accounting
1.2K views

PROBLEMI (30%) An analysis of selected accounts in the Madoff Company's general ledger prior to...

Finance
1.2K views

DK Pepper, Inc. is consedring two mutually exclusive projects, A & B. Project A costs...

Finance
1.2K views

Jasper, Inc. just paid an annual dividend of $10.00 per share. The next two annual...