what sinking fund payment would be required at the end of each six-month period, at 12% interest compounded semiannually, in order to amount to $40,000 within four years?

Question

what sinking fund payment would be required at the end of each six-month period, at 12% interest compounded semiannually, in order to amount to $40,000  within four years?

Reiny · Answer

Paym(1.06^8 - 1)/.06 =40000 payment = 4000(.06)/(1.06^8 - 1) = $ 4041.44

chuddy · Answer

A sporting goods store recorded net sales of $526,200 for the year. The store's beginning inventory at retail was $232,100 and its ending inventory at retail was $215,100, what would be the inventory turnover at retail, rounded to the nearest tenth?