A corporation creates a sinking fund in order to have

Reference no: EM13621352

A corporation creates a sinking fund in order to have $980,000 to replace some machinery in 9 years. How much should be placed in this account at the end of each week if the annual interest rate is 4.7% compounded weekly? (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.

Reference no: EM13621352

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