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A corporation creates a sinking fund in order to have $460,000 to replace some machinery...

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Accounting

A corporation creates a sinking fund in order to have $460,000 to replace some machinery in 8 years. How much should be placed in this account at the end of each month if the annual interest rate is 8.7% compounded monthly? (Round your answers to the nearest cent.) $ How much interest would they earn over the life of the account? $ Determine the value of the fund after 2, 4, and 6 years. 2 years $ 4 years $ 6 years $ How much interest was earned during the fourth month of the 4th year? $

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