Ask a New Question

Question

Clearlake Optical has a $50,000 note that comes due in 6 years. The owners wish to create a sinking fund to pay this note. If the fund earns 3.5% compounded semiannually, how much must each semiannual deposit be? (Round your answer to the nearest cent.)
3 years ago

Answers

mathhelper
Assuming the payments are at the end of each half-year ...
i = .035/2 = .0175
n = 12
pay = ?

pay( 1.0175^12 - 1)/.0175 = 50000
solve for 'pay'
3 years ago

Related Questions

The following are the optical properties of three materials A,B and C. Property A... You see an optical illusion of an ever-upward spiral staircase. The climber trudges up and up and ne... 17 You purchase a used optical drive from a second and store replace a single optical drive that has... Q. How do i make an optical illusion using turtle graphics? Thank you. What is the optical purity of a partially racemized product is the calculated specific rotation is -... Which of the following optical instruments consists of converging lenses give an example of a optical system and the type of energy it uses Optical instruments all use _____ either to magnify images or to gather and focus light. conve... which optical instrument does not use a convex lens to enlarge an image A a refracting telescope B... Which of the following optical discs will store the most data? Group of answer choices DVD-ROM D...
Ask a New Question
Archives Contact Us Privacy Policy Terms of Use