TABLE13-3Period2%3%4%5%6%8%10%Sinking fund table based on $111.00001.00001.00001.00001.00001.00001.00000.49510.49260.49020.48780.48540.48080.47620.32680.32350.32030.31720.31410.30800.30210.24260.23900.23550.23200.22860.22190.21550.19220.18840.18460.18100.17740.17050.16380.15850.15460.15080.14700.1434013630.12960.13450.13050.12660.12280.1191011210.1054810.11650.1125010850.10470.1010009400.08746.0.10250.09840.09450.09070.08700.080100736100.09130.08720.08330.07950.07590.06900.0627110.08220.07810.07410.07040.06680060100540120.07460.07050.06660.06280.05930.05270.0468130.06810.06400.06010.05650.05300046500408140.06260.05850.05470.05100.04760.04130.0357150.05780.05380.04990.04630.04300.036800315160.05370.04960.04580.04230.0390003300.0278170.05000.04600.04220.03870.03540.029600247180.04670.04270.03900.03550,03240.02670.0219190.04380.03980.03610.03270.02960024100195200.04120.03720.03360.03020.0272002190.0175240.03290.02900.02560.02250.015000113280.02700.02330.02000.01710.0146001050.0075రోస డర320.02260.0190001590.01330.01100.00750.0050360.01920.0158001290.01040.00840.00530.0033400.01660.01330.01050.00830.0065,00390.002323 456.7 Using the sinking fund Table 13.3, complete the following: (Do not round intermediate calculations. Round your answer to thenearest cent.)Frequency ofpaymentPayment amountend of eachRequiredInterestLength of timeamountrateperiod24,700Quarterly5 years8%acer%24

given, pv = $24700 TIME = 5 YEARS RATE =8% quarterly compounding

Answered: néářést cent.) Frequency of payment…

néářést cent.) Frequency of payment Payment amount end of each Required Interest Length of time amount rate period 24,700 Quarterly 5 years 8 % %24

Pfin (with Mindtap, 1 Term Printed Access Card) (mindtap Course List)

7th Edition

ISBN:9780357033609

Author:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk

Publisher:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk

Chapter13: Investing In Mutual Funds, Etfs, And Real Estate

Section: Chapter Questions

Problem 2FPE

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Question

TABLE
13-3
Period
2%
3%
4%
5%
6%
8%
10%
Sinking fund table based on $1
1
1.0000
1.0000
1.0000
1.0000
1.0000
1.0000
1.0000
0.4951
0.4926
0.4902
0.4878
0.4854
0.4808
0.4762
0.3268
0.3235
0.3203
0.3172
0.3141
0.3080
0.3021
0.2426
0.2390
0.2355
0.2320
0.2286
0.2219
0.2155
0.1922
0.1884
0.1846
0.1810
0.1774
0.1705
0.1638
0.1585
0.1546
0.1508
0.1470
0.1434
01363
0.1296
0.1345
0.1305
0.1266
0.1228
0.1191
01121
0.1054
81
0.1165
0.1125
01085
0.1047
0.1010
00940
0.0874
6.
0.1025
0.0984
0.0945
0.0907
0.0870
0.0801
00736
10
0.0913
0.0872
0.0833
0.0795
0.0759
0.0690
0.0627
11
0.0822
0.0781
0.0741
0.0704
0.0668
00601
00540
12
0.0746
0.0705
0.0666
0.0628
0.0593
0.0527
0.0468
13
0.0681
0.0640
0.0601
0.0565
0.0530
00465
00408
14
0.0626
0.0585
0.0547
0.0510
0.0476
0.0413
0.0357
15
0.0578
0.0538
0.0499
0.0463
0.0430
0.0368
00315
16
0.0537
0.0496
0.0458
0.0423
0.0390
00330
0.0278
17
0.0500
0.0460
0.0422
0.0387
0.0354
0.0296
00247
18
0.0467
0.0427
0.0390
0.0355
0,0324
0.0267
0.0219
19
0.0438
0.0398
0.0361
0.0327
0.0296
00241
00195
20
0.0412
0.0372
0.0336
0.0302
0.0272
00219
0.0175
24
0.0329
0.0290
0.0256
0.0225
0.0150
00113
28
0.0270
0.0233
0.0200
0.0171
0.0146
00105
0.0075
రోస డర
32
0.0226
0.0190
00159
0.0133
0.0110
0.0075
0.0050
36
0.0192
0.0158
00129
0.0104
0.0084
0.0053
0.0033
40
0.0166
0.0133
0.0105
0.0083
0.0065
,0039
0.0023
23 4
56.7

Using the sinking fund Table 13.3, complete the following: (Do not round intermediate calculations. Round your answer to the
nearest cent.)
Frequency of
payment
Payment amount
end of each
Required
Interest
Length of time
amount
rate
period
24,700
Quarterly
5 years
8%
acer
%24

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