A company established a sinking fund account to accumulate $600,000 in five years. Payments are made at the beginning of each month and the account pays 5.25% compounded quarterly. How much interest does the account earn over the five years?

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The Answer of A company established a sinking fund account to accumulate $600,000 in five years. Payments are made at the beginning of each month and the account pays 5.25% compounded quarterly. How much interest does the account earn over the five years?

A Company Established a Sinking Fund Account to Accumulate $600,000