A company establishes a sinking fund for plant retooling in, Financial Accounting

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A company establishes a sinking fund for plant retooling in

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

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Financial Accounting: A company establishes a sinking fund for plant retooling in

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Financial Accounting: A company establishes a sinking fund for plant retooling in

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