Chrissy Fields buys some land in Oregon. She agrees to pay the seller a lump sum of $ 120 , 000 in six years. Until then, she will make monthly simple interest payments to the seller at 12 % interest. a. Find the amount of each interest payment. b. Chrissy sets up a sinking fund to save the $ 120 , 000 . Find the size of her semiannual payments if her money earns 10 3 4 % interest. c. Prepare a table showing the amount in the sinking fund after each deposit.
Chrissy Fields buys some land in Oregon. She agrees to pay the seller a lump sum of $ 120 , 000 in six years. Until then, she will make monthly simple interest payments to the seller at 12 % interest. a. Find the amount of each interest payment. b. Chrissy sets up a sinking fund to save the $ 120 , 000 . Find the size of her semiannual payments if her money earns 10 3 4 % interest. c. Prepare a table showing the amount in the sinking fund after each deposit.
Chrissy Fields buys some land in Oregon. She agrees to pay the seller a lump sum of
$
120
,
000
in six years. Until then, she will make monthly simple interest payments to the seller at
12
%
interest.
a. Find the amount of each interest payment.
b. Chrissy sets up a sinking fund to save the
$
120
,
000
. Find the size of her semiannual payments if her money earns
10
3
4
%
interest.
c. Prepare a table showing the amount in the sinking fund after each deposit.
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