Using the sinking fund formula or a financial calculator, complete the following: (Do not round intermediate calculations. Round your answer to the nearest cent.) requires amount $26,000; frequency of payment - quarterly; time - 5 years; interest rate - 8% Payment amount end of each period $____________
Using the sinking fund formula or a financial calculator, complete the following: (Do not round intermediate calculations. Round your answer to the nearest cent.) requires amount $26,000; frequency of payment - quarterly; time - 5 years; interest rate - 8% Payment amount end of each period $____________
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 16E: Mortgage What is the monthly payment on a 30-year mortgage of $80,000 at 9% interest? What is the...
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Using the sinking fund formula or a financial calculator, complete the following: (Do not round intermediate calculations. Round your answer to the nearest cent.)
requires amount $26,000; frequency of payment - quarterly; time - 5 years; interest rate - 8%
Payment amount end of each period $____________
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