Question
A business sets up a sinking fund so they will have a $50,000.00 to pay for a replacement piece of equipment in 12 years when
A business sets up a sinking fund so they will have a $50,000.00 to pay for a replacement piece of equipment in 12 years when the current equipment will be sold for scrap. If they make deposits at the end of each month for 12 years in the investment that pays 6.9% compounded monthly, what size should each payment be?
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Governing The Modern Corporation Capital Markets Corporate Control And Economic Performance
Authors: Roy C. Smith, Ingo Walter
1st Edition
0195171675,0199924015
