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10602 and 13683 is incorrect A loan of 350000 is taken over twenty years and will be repaid using the sinking fund method with equal
10602 and 13683 is incorrect
A loan of 350000 is taken over twenty years and will be repaid using the sinking fund method with equal size quarterly payments (i.e. end of quarter) at a nominal annual interest rate of 3% compounded quarterly. Calculate the outstanding balance of the sinking fund immediately after the 15th payment is made. Give your answer rounded to the nearest whole number i.e. X)Step by Step Solution
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