Question: Question 2 [5 points] Echo Systems wants to accumulate $750,000 in two years. They anticipate that they can get a sinking-fund at 5% compounded quarterly.
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Question 2 [5 points] Echo Systems wants to accumulate $750,000 in two years. They anticipate that they can get a sinking-fund at 5% compounded quarterly. They want to make quarterly payments over the two year term. Construct a sinking fund schedule for he fund and calculate the totals of each column. For full marks your answer(s) should be rounded to the nearest cent. Payment Payment amount Interest earned Principal number at end ($) or accrued ($) increase ($) 0 1 2 3 4 5 89,724.85 89,724.85 89,724.85 89,724.85 0.00 0.00 0.00 0.00 0.00 0.00 1,121.56 2,257.14 3,406.92 0.00 0.00 0.00 0.00 0.00 89,724.85 90,846.41 91,981.99 93,131.77 0.00 0.00 0.00 0.00 0.00 Principal balance accumulated at end of payment interval ($) 0.00 89,724.85 180,571.26 272,553.25 365,685.02 0.00 0.00 0.00 0.00 7 8 Total 00
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