debt of RM12,000 bearing interest at 7% compounded annually is to be discharged by the sinking fund method. If eight annual deposits are made into a fund which pay 8% compounded quarterly, i.Find the annual interest payment ii. Find the annual deposit into the sinking fund iii. Calculate the annual cost of this debts
debt of RM12,000 bearing interest at 7% compounded annually is to be discharged by the sinking fund method. If eight annual deposits are made into a fund which pay 8% compounded quarterly, i.Find the annual interest payment ii. Find the annual deposit into the sinking fund iii. Calculate the annual cost of this debts
Chapter6: Exponential And Logarithmic Functions
Section: Chapter Questions
Problem 5RE: A retirement account is opened with an initialdeposit of 8,500 and earns 8.12 interest compounded...
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A debt of RM12,000 bearing interest at 7% compounded annually is to be discharged by the sinking fund method. If eight annual deposits are made into a fund which pay 8% compounded quarterly,
i.Find the annual interest payment
ii. Find the annual deposit into the sinking fund
iii. Calculate the annual cost of this debts
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