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Calculate the increase in the fund for the fourth year

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Reference no: EM133170438

Question - Equal deposits are made into a sinking fund at the end of each year for five years. Interest is 8.3% compounded annually, and the maturity value of the fund is $17,000.

Required -

a. Calculate the size of the annual.

b. Calculate the increase in the fund for the fourth year.

Reference no: EM133170438

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