What semiannual sinking fund payment would be required to yield $45,000 nine years from now? The annual interest rate is 6% compounded semiannually.Click the icon to view the table.The sinking fund payment is S(Round to the nearest cent as needed.) $1.00 Sinking Fund PaymentsRate per periodPeriods1%2%3%4%6%8%1.0000000 1.0000000 1.0000000 1.0000000 1.0000000 1.000000020.4975124 0.4950495 0.4926108 0.4901961 0.4854369 0.480769230.3300221 0.3267547 0.3235304 0.3203485 0.3141098 0.30803350.2462811 0.2426238 0.2390270 0.2354900 0.2285915 0.221920850.1960398 0.1921584 0.1883546 0.1846271 0.1773964 0.17045656.0.1625484 0.1585258 0.1545975 0.1507619 0.1433626 0.136315470.1386283 0.1345120 0.1305064 0.1266096 0.1191350 0.11207248.0.1206903 0.1165098 0.1124564 0.1085278 0.1010359 0.094014890.1067404 0.1025154 0.0984339 0.0944930 0.0870222 0.0800797100.0955821 0.0913265 0.0872305 0.0832909 0.0758680 0.0690295110.0864541 0.0821779 0.0780774 0.0741490 0.0667929 0.0600763

Given information: Future value is $45,000 Annual interest rate is 6% Number of years is 9

What semiannual sinking fund payment would be required to yield $45,000 nine years from now? The annual interest rate is 6% compounded semiannually. Click the icon to view the table. The sinking fund payment is S - (Round to the nearest cent as needed.)

What semiannual sinking fund payment would be required to yield $45,000 nine years from now? The annual interest rate is 6% compounded semiannually. Click the icon to view the table. The sinking fund payment is S - (Round to the nearest cent as needed.)

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter5: The Time Value Of Money

Section: Chapter Questions

Problem 5P

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Question

What semiannual sinking fund payment would be required to yield $45,000 nine years from now? The annual interest rate is 6% compounded semiannually.
Click the icon to view the table.
The sinking fund payment is S
(Round to the nearest cent as needed.)

$1.00 Sinking Fund Payments
Rate per period
Periods
1%
2%
3%
4%
6%
8%
1.0000000 1.0000000 1.0000000 1.0000000 1.0000000 1.0000000
2
0.4975124 0.4950495 0.4926108 0.4901961 0.4854369 0.4807692
3
0.3300221 0.3267547 0.3235304 0.3203485 0.3141098 0.3080335
0.2462811 0.2426238 0.2390270 0.2354900 0.2285915 0.2219208
5
0.1960398 0.1921584 0.1883546 0.1846271 0.1773964 0.1704565
6.
0.1625484 0.1585258 0.1545975 0.1507619 0.1433626 0.1363154
7
0.1386283 0.1345120 0.1305064 0.1266096 0.1191350 0.1120724
8.
0.1206903 0.1165098 0.1124564 0.1085278 0.1010359 0.0940148
9
0.1067404 0.1025154 0.0984339 0.0944930 0.0870222 0.0800797
10
0.0955821 0.0913265 0.0872305 0.0832909 0.0758680 0.0690295
11
0.0864541 0.0821779 0.0780774 0.0741490 0.0667929 0.0600763

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