Question
What sinking fund payment would be required at the end of each three-month period, at
8% interest compounded quarterly, in order to amount to $20,000 within five years?
8% interest compounded quarterly, in order to amount to $20,000 within five years?
Answers
solve for x
20000 = x[1.02)^20 - 1]/.02
I got 823.13
20000 = x[1.02)^20 - 1]/.02
I got 823.13
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