# The town of Mount Hope is financing a $4.5 million upgrade to its water system through the

## Question:

a. Calculate the size of the sinking fund payments. b. How much will the fund increase in the eighteenth payment interval?

c. How much interest will the fund earn in the tenth year?

d. Construct a partial sinking fund schedule showing details of the ninth, tenth, and last two payments, and the total of the interest earned.

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## Step by Step Answer:

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