calculate the amount (in $) of the periodic payments needed to amount to the financial objective (future value of the annuity). (Round your answer to the nearest cent.) Sinking Fund Payment Payment Frequency Time Period (years) Nominal Rate (%) Interest Compounded Future Value (Objective) $ every year 14 8 annually $450,000
calculate the amount (in $) of the periodic payments needed to amount to the financial objective (future value of the annuity). (Round your answer to the nearest cent.) Sinking Fund Payment Payment Frequency Time Period (years) Nominal Rate (%) Interest Compounded Future Value (Objective) $ every year 14 8 annually $450,000
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 21E
Related questions
Question
calculate the amount (in $) of the periodic payments needed to amount to the financial objective (future value of the annuity). (Round your answer to the nearest cent.)
Sinking Fund Payment |
Payment Frequency |
Time Period (years) |
Nominal Rate (%) |
Interest Compounded |
Future Value (Objective) |
---|---|---|---|---|---|
$ | every year | 14 | 8 | annually | $450,000 |
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