Salim wants to remodel his game room in 5 years. He estimates the cost to be $16166. Find the sinking fund payment if he can purchase an ordinary annuity that is paying 3% annually. O 752.21 250.07 O 3044.94 O 1510.46 O 3213.86 W

College Algebra
7th Edition
ISBN:9781305115545
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter8: Sequences And Series
Section8.4: Mathematics Of Finance
Problem 19E
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Salim wants to remodel his game room in 5 years. He estimates the cost to be $16166. Find the
sinking fund payment if he can purchase an ordinary annuity that is paying 3% annually.
O 752.21
250.07
O 3044.94
1510.46
3213.86
IG 1x G
Transcribed Image Text:Salim wants to remodel his game room in 5 years. He estimates the cost to be $16166. Find the sinking fund payment if he can purchase an ordinary annuity that is paying 3% annually. O 752.21 250.07 O 3044.94 1510.46 3213.86 IG 1x G
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9781305115545
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James Stewart, Lothar Redlin, Saleem Watson
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Cengage Learning