A company has a $170,000 note due in 5 years. How much should be deposited at the end of each quarter in a sinking fund to pay off the note in 5 years if the interest rate is 9% compounded quarterly
A company has a $170,000 note due in 5 years. How much should be deposited at the end of each quarter in a sinking fund to pay off the note in 5 years if the interest rate is 9% compounded quarterly
Chapter5: The Time Value Of Money
Section: Chapter Questions
Problem 26P
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A company has a $170,000 note due in 5 years. How much should be deposited at the end of each quarter in a sinking fund to pay off the note in 5 years if the interest rate is 9% compounded quarterly?
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