a corporation creates a sinking fund in order to have $340,000 to replace some machinery in 11 years. how much should be placed in this account at the end of each week if the annual interest rate is 7.8% compounded weekly. (round your answer to the nearest cent) 1) how much interest was earned during the fourth week of the 4th year?

Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
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Chapter2: Second-order Linear Odes
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a corporation creates a sinking fund in order to have $340,000 to replace some machinery in 11 years. how
much should be placed in this account at the end of each week if the annual interest rate is 7.8% compounded
weekly. (round your answer to the nearest cent)
1) how much interest was earned during the fourth week of the 4th year?
Transcribed Image Text:a corporation creates a sinking fund in order to have $340,000 to replace some machinery in 11 years. how much should be placed in this account at the end of each week if the annual interest rate is 7.8% compounded weekly. (round your answer to the nearest cent) 1) how much interest was earned during the fourth week of the 4th year?
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