A factory must replace her machinery two years from now at a cost of $100,000....
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A factory must replace her machinery two years from now at a cost of $100,000. The manager has to set aside equal amounts of deposits at the beginning of each quarter to settle the payments. If the interest is 5.5% p.a. compounded quarterly, solve the following problems. (Round all the answers to two decimal places.) (a) What is the size of the equal quarterly deposits? (10%) (b) What is the total amount that the factory paid for the machinery? (5%) (c) If the manager decides to deposit a certain amount (lump-sum) of money at the beginning of the first quarter instead of setting aside equal deposit at each quarter, what is the size of this certain amount? (5%)
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