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A sinking fund is established to discharge a debt of $50,000 in 15 years. If...

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Accounting

A sinking fund is established to discharge a debt of $50,000 in 15 years. If deposits are made at the end of each 6-month period and interest is paid at the rate of 2%, compounded semi-annually, what is the amount of each deposit? Round to the nearest cent. A sinking fund is a deposit account to have a certain amount in the future.

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