) Gabrielle needs $200,000 in eight years. She has set up a sinking fund that earns 5% compounded onthly in order to have the amount in eight years? (1) How much should she deposit each month? (ii) How much interest earned over the period?
) Gabrielle needs $200,000 in eight years. She has set up a sinking fund that earns 5% compounded onthly in order to have the amount in eight years? (1) How much should she deposit each month? (ii) How much interest earned over the period?
Chapter4: Time Value Of Money
Section: Chapter Questions
Problem 8PROB
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