Find the amount of each payment to be made into a sinking fund so that enough will be present to accumulate the following amount. Payments are made at the end of each period. The interest rate given is per period. Round answer to the nearest cent.1 $79,000; money earns 6% compounded semiannually for 13 years 2A. $1,335.44B. $1,940.57OC. $982.92OD. $1,152.81
Find the amount of each payment to be made into a sinking fund so that enough will be present to accumulate the following amount. Payments are made at the end of each period. The interest rate given is per period. Round answer to the nearest cent.1 $79,000; money earns 6% compounded semiannually for 13 years 2A. $1,335.44B. $1,940.57OC. $982.92OD. $1,152.81
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
ChapterM: Time Value Of Money Module
Section: Chapter Questions
Problem 10RE: If 90,000 is invested in a fund on December 31, 2019, and 5 equal annual withdrawals of 23,138.32...
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Question
Find the amount of each payment to be made into a sinking fund so that enough will be present to accumulate the following amount. Payments are made at the end of each period. The interest rate given is per period. Round answer to the nearest cent.
1 $79,000; money earns 6% compounded semiannually for 13 years 2
A. $1,335.44
B. $1,940.57
OC. $982.92
OD. $1,152.81
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