Question
A company establishes a sinking fund for plant retooling in 6 years at an estimated cost of $850,000. How much should be invested semiannually into
A company establishes a sinking fund for plant retooling in 6 years at an estimated cost of $850,000. How much should be invested semiannually into an account paying 8.76% compounded semiannually? How much interest will the account earn in the 6 years?
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Numerical Techniques In Finance
Authors: Simon Benninga
1st Edition
0262022869, 978-0262022866
