A business sets up a sinking fund so they will have a $60,000.00 to pay for a replacement piece of equipment in 9 years when the current equipment will be sold for scrap. If they make deposits at the end of each quarter for 9 years in the investment that pays 6.9% compounded quarterly, what size should each payment be? The quarterly payments are $ (Round to 2 decimal places.)

Q: Use a spreadsheet or financial program on a calculator or computer. Track the future values of two…

A: (a) For compounded quarterly, P = $5000 r = 6.4% = 0.064 n = 4 FV = $7500 Formula: FV=P1+rnnt By…

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A: Given:          Present value PV = $6,900          Rate of interest  r = 7%…

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Q: The trustees of a college have accepted a gift of $150,000, but are required to deposit it in an…

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Q: If $80,000 is invested in an annuity that earns 5.8%, compounded quarterly, what payments will it…

A: Step:-1 Formula for annuity PV=P×1-(1+R)-nR Here, PV = present value, P= each payment value, R =…

Q: A business sets up a sinking fund so they will have a $51,000.00 to pay for a replacement piece of…

A: We will find out the required value.

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Q: A mutual fund has an average annual rate of return of 14.5 % . The investment company charges 3 %…

A: The formula for the compound interest is Pt=P0(1+r)t whereP0=initial value ($4000 i.e.…

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A: Given data: Amount that needs to be accumulated (A)=$360000 Interest rate (r) =9% Time (t) =34…

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A: a Given  P=$1200n=5i=8% A=P1+in calculate the total amount for the deposit of each year as follows:…

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A: Given that:  $89,000 is invested in an annuity that earns 5.5%, compounded quarterly. So, PV=$…

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A: P = $8,000 t = 10 years. a).

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A: Given:

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A: FORMULA A=final amount P=initial principal balance r=interest rate t= number of time period…

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Q: a) Patty Stacey deposits $1400 at the end of each of 5 years in an IRA. If she leaves the money that…

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A: We know that if a periodic payment R is made for n periods at an interest rate i per period,the…

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A: step:-1 Formula For future value payment is Future value (F)= P×(1+R)t-1R; Here, P=Payment value, R=…

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Q: (a) Patty Stacey deposits $2400 at the end of each of 5 years in an IRA. If she leaves the money…

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Q: Tara wishes to accumulate $29,000 in 3 years. Use the appropriate formula to find the sinking fund…

A: Given: Future value = FV = $29000 r = rate per period = 8%  =  8/2 = 4%      n = number of periods =…

Q: 14. VAN PURCHASE In 4 years, Jennifer Videtto will need to purchase a delivery van for her plumbing…

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Q: (a) Patty Stacey deposits $1600 at the end of each of 5 years in an IRA. If she leaves the money…

A: Consider the provided question, Hi, since you have asked multiple questions, we will solve the first…

Q: A business sets up a sinking fund so they will have a $47,000.00 to pay for a replacement piece of…

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A: topic - exponential function

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