Determine the value of the fund after 2, 4, and 6 years. 2 years $189627 86 ✓ X x 4 years $393750 99 6 years $2770424.23 How much interest was earned during the third quarter of the 5th year? $ 474257 11 X Addition

Financial Accounting Intro Concepts Meth/Uses
14th Edition
ISBN:9781285595047
Author:Weil
Publisher:Weil
ChapterA: Appendix - Time Value Of Cash Flows: Compound Interest Concepts And Applications
Section: Chapter Questions
Problem 22E
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How much interest would they earn over the life of the account?
$ 115706 24
Determine the value of the fund after 2, 4, and 6 years.
2 years $189627.86 ✓
4 years $393750.99 x
6 years $2770424.23 X
A corporation creates a sinking fund in order to have $850,000 to replace some machinery in 8 years. How much should be placed in this account at the end of each quarter if the
annual interest rate is 3.7% compounded quarterly? (Round your answers to the nearest cent.)
$ 22946.68
Additional Materials
ebook
TEAFM2 F.3.026.
How much interest was earned during the third quarter of the 5th year?
$ 474257 11 X
MY NOTES
PRACTICE ANOTHER
Transcribed Image Text:DETAILS PREVIOUS ANSWERS How much interest would they earn over the life of the account? $ 115706 24 Determine the value of the fund after 2, 4, and 6 years. 2 years $189627.86 ✓ 4 years $393750.99 x 6 years $2770424.23 X A corporation creates a sinking fund in order to have $850,000 to replace some machinery in 8 years. How much should be placed in this account at the end of each quarter if the annual interest rate is 3.7% compounded quarterly? (Round your answers to the nearest cent.) $ 22946.68 Additional Materials ebook TEAFM2 F.3.026. How much interest was earned during the third quarter of the 5th year? $ 474257 11 X MY NOTES PRACTICE ANOTHER
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