A company wants to accumulate $1,000,000 in the next four years for plant expansion. They have set up a sinking fund account to which semiannual deposits will be made at 4.75% compounded semiannually. What should be the size of the semiannual payments?

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The Answer of A company wants to accumulate $1,000,000 in the next four years for plant expansion. They have set up a sinking fund account to which semiannual deposits will be made at 4.75% compounded semiannually. What should be the size of the semiannual payments?

A Company Wants to Accumulate $1,000,000 in the Next Four