Asked by Anonymous
Find the monthly payment, needed to have a sinking fund accumulate the future value, $16,000. The yearly interest rate is 6.7% and the number of payments is 20. Interest is compounded monthly.
I do not remember how to solve for this equation. Please help me.
I do not remember how to solve for this equation. Please help me.
Answers
Answered by
Anonymous
Would the answer be 223.98?
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