jocekinn jocekinn

15-04-2017
Mathematics

contestada

Find the amount of payment into a sinking fund.

Amount Needed: $23,000

Years Until Needed: 10

Interest Rate: 4%

Interest Compounded: Quarterly

Respuesta :

Aliwohaish12 Aliwohaish12

15-04-2017

23000=X [((1+0.04/4)^(4*10)-1)/(0.04/4)]
Solve for x
X=470.48

Answer Link

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