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What semiannual sinking fund payment would be required to yield ​$49,000 seven years from​ now? The annual interest rate is 4​% compounded semiannually. (Round to the nearest cent as​ needed.) ​$1.00 Sinking Fund Payments   Rate per period Periods ​1% ​2% ​3% ​4% ​6% ​8% 1 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 4 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 12 0.0788488 0.0745596 0.0704621 0.0665522 0.0592770 0.0526950 13 0.0724148 0.0681184 0.0670295 0.0601437 0.0529601 0.0465218 14 0.0669012 0.0626020 0.0585263 0.0546690 0.0475849 0.0412969 15 0.0621238 0.0578255 0.0537666 0.0499411 0.0429628 0.0368295 16 0.0579446 0.0536501 0.0496108 0.0458200 0.0389521 0.0329769 17 0.0542581 0.0499698 0.0459525 0.0421985 0.0354448 0.0296294 18 0.0509820 0.0467021 0.0427087 0.0389933 0.0323565 0.0267021 19 0.0480518 0.0437818 0.0398139 0.0361386 0.0296209 0.0241276 20 0.0454153 0.0411567 0.0372157 0.0335818 0.0271846 0.0218522 25 0.0354068 0.0312204 0.0274279 0.0240120 0.0182267 0.0136788 30 0.0287481 0.0246499 0.0210193 0.0178301 0.0126489 0.0088274 40 0.0204556 0.0165558 0.0132624 0.0105235 0.0064615 0.0038602 50 0.0155127 0.0118232 0.0088655 0.0065502 0.0034443 0.0017429

What semiannual sinking fund payment would be required to yield ​$49,000 seven years from​ now? The annual interest rate is 4​% compounded semiannually. (Round to the nearest cent as​ needed.) ​$1.00 Sinking Fund Payments   Rate per period Periods ​1% ​2% ​3% ​4% ​6% ​8% 1 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 4 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 12 0.0788488 0.0745596 0.0704621 0.0665522 0.0592770 0.0526950 13 0.0724148 0.0681184 0.0670295 0.0601437 0.0529601 0.0465218 14 0.0669012 0.0626020 0.0585263 0.0546690 0.0475849 0.0412969 15 0.0621238 0.0578255 0.0537666 0.0499411 0.0429628 0.0368295 16 0.0579446 0.0536501 0.0496108 0.0458200 0.0389521 0.0329769 17 0.0542581 0.0499698 0.0459525 0.0421985 0.0354448 0.0296294 18 0.0509820 0.0467021 0.0427087 0.0389933 0.0323565 0.0267021 19 0.0480518 0.0437818 0.0398139 0.0361386 0.0296209 0.0241276 20 0.0454153 0.0411567 0.0372157 0.0335818 0.0271846 0.0218522 25 0.0354068 0.0312204 0.0274279 0.0240120 0.0182267 0.0136788 30 0.0287481 0.0246499 0.0210193 0.0178301 0.0126489 0.0088274 40 0.0204556 0.0165558 0.0132624 0.0105235 0.0064615 0.0038602 50 0.0155127 0.0118232 0.0088655 0.0065502 0.0034443 0.0017429

College Algebra
College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter9: Sequences, Probability And Counting Theory
Section9.4: Series And Their Notations
Problem 56SE: To get the best loan rates available, the Riches want to save enough money to place 20% down on a...
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What semiannual sinking fund payment would be required to yield ​$49,000 seven years from​ now? The annual interest rate is 4​% compounded semiannually. (Round to the nearest cent as​ needed.)

​$1.00 Sinking Fund Payments
 
Rate per period
Periods
​1%
​2%
​3%
​4%
​6%
​8%
1
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
4
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
12
0.0788488
0.0745596
0.0704621
0.0665522
0.0592770
0.0526950
13
0.0724148
0.0681184
0.0670295
0.0601437
0.0529601
0.0465218
14
0.0669012
0.0626020
0.0585263
0.0546690
0.0475849
0.0412969
15
0.0621238
0.0578255
0.0537666
0.0499411
0.0429628
0.0368295
16
0.0579446
0.0536501
0.0496108
0.0458200
0.0389521
0.0329769
17
0.0542581
0.0499698
0.0459525
0.0421985
0.0354448
0.0296294
18
0.0509820
0.0467021
0.0427087
0.0389933
0.0323565
0.0267021
19
0.0480518
0.0437818
0.0398139
0.0361386
0.0296209
0.0241276
20
0.0454153
0.0411567
0.0372157
0.0335818
0.0271846
0.0218522
25
0.0354068
0.0312204
0.0274279
0.0240120
0.0182267
0.0136788
30
0.0287481
0.0246499
0.0210193
0.0178301
0.0126489
0.0088274
40
0.0204556
0.0165558
0.0132624
0.0105235
0.0064615
0.0038602
50
0.0155127
0.0118232
0.0088655
0.0065502
0.0034443
0.0017429
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