A company establishes a sinking fund for plant retooling in 6 years at an estimated cost of

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A company establishes a sinking fund for plant retooling in 6 years at an estimated cost of $850,000. How much should be invested semiannually into an account paying 8.76% compounded semiannually? How much interest will the account earn in the 6 years?

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College Mathematics For Business Economics, Life Sciences, And Social Sciences

ISBN: 978-0134674148

14th Edition

Authors: Raymond Barnett, Michael Ziegler, Karl Byleen, Christopher Stocker

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