Asked by alisha
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
Answered by
Reiny
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
There are no AI answers yet. The ability to request AI answers is coming soon!
Submit Your Answer
We prioritize human answers over AI answers.
If you are human, and you can answer this question, please submit your answer.