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28 Sep 2019
What equal series of payments must be paid into a sinking fund to accumulate the following amount?
(a) $45,000 in 10 years at 7.45% compounded semi-annnually when payments are semiannual.
(b)$25,000 in 15 years at 6.35% compounded quarterly when payments are quarterly.
(c)$12,000 in 5 years at 9.25% compounded monthly when payments are monthly.
What equal series of payments must be paid into a sinking fund to accumulate the following amount?
(a) $45,000 in 10 years at 7.45% compounded semi-annnually when payments are semiannual.
(b)$25,000 in 15 years at 6.35% compounded quarterly when payments are quarterly.
(c)$12,000 in 5 years at 9.25% compounded monthly when payments are monthly.
Paramjeet ChawlaLv8
28 Sep 2019
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