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Baleen Industries established a sinking fund to pay off a

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Baleen Industries established a sinking fund to pay off a $10,000,000 loan that comes due in 8 years for a corporate jet.
a. What equal payments must be deposited into the fund every 3 months at 6% interest compounded quarterly for Baleen to meet this financial obligation?
b. What is the total amount of interest earned in this sinking fund account?

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Baleen Industries established a sinking fund to pay off a

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