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8.48. A building is expected to require $4,250,000 in capital improvement expenditures in three years. The building's net operating cash flow prior to that time
8.48. A building is expected to require $4,250,000 in capital improvement expenditures in three years. The building's net operating cash flow prior to that time is expected to be at least $200,000 at the end of every month. How much of that monthly cash flow must the owners set aside each month in order to have the money available for the capital improvements, assuming the equal monthly contributions placed in this "sinking fund" will ean interest at a nominal annual rate of 5%, comp liedin,this "sinking fund", assuming annual rate of 5%, compounded monthly
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