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Sinking Fund: Darden Publishing Company plans to replace a piece of equipment at an expected cost of $ 65,000 in 10 years. The company establishes a...
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4. Sinking Fund: Darden Publishing Company plans to replace a piece of equipment at an
expected cost of $ 65,000 in 10 years. The company establishes a sinking fund with
annual payment. The fund earns 7% compounded annually. Find the periodic
payments.

Step-by-step answer

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