Find the monthly payment R needed to have a sinking fund accumulate the future value A. The yearly interest rate r and the time t in years are given below. Interest is compounded monthly. A= $9,000; r=7%; t= 1 %3D R=$ (Round up to the nearest cent.)
Find the monthly payment R needed to have a sinking fund accumulate the future value A. The yearly interest rate r and the time t in years are given below. Interest is compounded monthly. A= $9,000; r=7%; t= 1 %3D R=$ (Round up to the nearest cent.)
Chapter11: Capital Budgeting Decisions
Section: Chapter Questions
Problem 3PB: Use the tables in Appendix B to answer the following questions. A. If you would like to accumulate...
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