Chapter 12.III, Problem 3RE

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8th Edition

Robert Brechner + 1 other

ISBN: 9781305585447

Textbook Problem

*Note: Round to the nearest cent when necessary.*

**For the following sinking funds, use Table 12-1 to calculate the amount of the periodic payments needed to amount to the financial objective (future value of the annuity).**

Sinking Fund |
Payment |
Time Period |
Nominal |
Interest |
Future Value |
|||||||

Payment |
Frequency |
(years) |
Rate (%) |
Compounded |
(Objective) |
|||||||

3. | every 3 months | 5 | 4 | quarterly | $1.500 |

To determine

**To calculate:** The amount of sinking fund payment where payment frequency is

Explanation

**Given Information:**

Payment frequency is

**Formula used:**

The formula to compute the sinking fund payment is,

**Calculation:**

Consider that Payment frequency is

The rate period is

The number of periods is

Sect-12.I P-1TIESect-12.I P-2TIESect-12.I P-3TIESect-12.I P-1RESect-12.I P-2RESect-12.I P-3RESect-12.I P-4RESect-12.I P-5RESect-12.I P-6RESect-12.I P-7RE

Sect-12.I P-8RESect-12.I P-9RESect-12.I P-10RESect-12.I P-11RESect-12.I P-12RESect-12.I P-13RESect-12.I P-14RESect-12.I P-15RESect-12.I P-16RESect-12.I P-17RESect-12.I P-18RESect-12.I P-19RESect-12.I P-20RESect-12.I P-21RESect-12.I P-22RESect-12.I P-23RESect-12.I P-24RESect-12.II P-4TIESect-12.II P-5TIESect-12.II P-6TIESect-12.II P-1RESect-12.II P-2RESect-12.II P-3RESect-12.II P-4RESect-12.II P-5RESect-12.II P-6RESect-12.II P-7RESect-12.II P-8RESect-12.II P-9RESect-12.II P-10RESect-12.II P-11RESect-12.II P-12RESect-12.II P-13RESect-12.II P-14RESect-12.II P-15RESect-12.II P-16RESect-12.II P-17RESect-12.II P-18RESect-12.II P-19RESect-12.II P-20RESect-12.II P-21RESect-12.II P-22RESect-12.II P-23RESect-12.II P-24RESect-12.III P-7TIESect-12.III P-8TIESect-12.III P-9TIESect-12.III P-10TIESect-12.III P-1RESect-12.III P-2RESect-12.III P-3RESect-12.III P-4RESect-12.III P-5RESect-12.III P-6RESect-12.III P-7RESect-12.III P-8RESect-12.III P-9RESect-12.III P-10RESect-12.III P-11RESect-12.III P-12RESect-12.III P-13RESect-12.III P-14RESect-12.III P-15RESect-12.III P-16RESect-12.III P-17RESect-12.III P-18RESect-12.III P-19RESect-12.III P-20RESect-12.III P-21RESect-12.III P-22RESect-12.III P-23RESect-12.III P-24RESect-12.III P-25RECh-12 P-1CRCh-12 P-2CRCh-12 P-3CRCh-12 P-4CRCh-12 P-5CRCh-12 P-6CRCh-12 P-7CRCh-12 P-8CRCh-12 P-9CRCh-12 P-10CRCh-12 P-11CRCh-12 P-12CRCh-12 P-13CRCh-12 P-14CRCh-12 P-1ATCh-12 P-2ATCh-12 P-3ATCh-12 P-4ATCh-12 P-5ATCh-12 P-6ATCh-12 P-7ATCh-12 P-8ATCh-12 P-9ATCh-12 P-10ATCh-12 P-11ATCh-12 P-12ATCh-12 P-13ATCh-12 P-14ATCh-12 P-15ATCh-12 P-16ATCh-12 P-17ATCh-12 P-18ATCh-12 P-19ATCh-12 P-20ATCh-12 P-21ATCh-12 P-22ATCh-12 P-23ATCh-12 P-24ATCh-12 P-25ATCh-12 P-26ATCh-12 P-27ATCh-12 P-28ATCh-12 P-29ATCh-12 P-30ATCh-12 P-31ATCh-12 P-32ATCh-12 P-33ATCh-12 P-34ATCh-12 P-35AT

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