Find the amount of the 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. 1 $75,000; money earns 8% compounded semiannually for 3 years The payment size is $ (Do not round until the final answer. Then round up to the nearest cent.)

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5.2 Q10) Hey! Need help with the following problem, it states to not round until the final answer, then round up to the nearest cent. Thank you!
Find the amount of the 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.
1
$75,000; money earns 8% compounded semiannually for 3 years
The payment size is $.
(Do not round until the final answer. Then round up to the nearest cent.)
Transcribed Image Text:Find the amount of the 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. 1 $75,000; money earns 8% compounded semiannually for 3 years The payment size is $. (Do not round until the final answer. Then round up to the nearest cent.)
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