Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Sep 29, 2024

A company establishes a sinking fund to pay off a debt of $110000 due in 6 years. Find the amount of the annual deposits if

A company establishes a sinking fund to pay off a debt of $110000 due in 6 years. Find the amount of the annual deposits if interest is 14% per annum. Answer = $ w Answers Submit Answers

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

Step: 3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Finance For Growing Enterprises

Authors: Edward W. Davis, Roger Buckland

1st Edition

1138679941, 978-1138679948

More Books

Students also viewed these Finance questions

Question

★★★★★

Andy Finley borrowed $35,000 on July 1, 2015. This amount plus accrued interest at 8% compounded annually is to be repaid on July 1, 2020. How much will Andy have to repay on July 1, 2020?

Answered: 1 week ago

Question

★★★★★

Last week, the USD/ZAR exchange rate was 14.2125. This week, the exchange rate is 14.5447. How much has the South African rand depreciated/appreciated against the U.S. dollar? a. depreciated by 2.28%...

Answered: 1 week ago

Question

★★★★★

Establishes clear accountabilities for self and the team.

Answered: 1 week ago

Question

★★★★★

Formetal Engineering submitted to Presto a sample and specifications for precut polyurethane pads to be used in making air-conditioning units. Formetal paid for the goods as soon as they were...

Answered: 1 week ago

Question

★★★★★

In a photoelectric effect experiment, increasing the frequency of light will: a ) Decrease the number of ejected electrons b ) Increase the number of ejected electrons c ) Not affect the number of...

Answered: 1 week ago

Question

★★★★★

Entries for issuing bonds and amortizing discount by straight-line method On the first day of its fiscal year, Chin Company issued $20,700,000 of 5-year, 9% bonds to finance its operations of...

Answered: 1 week ago

Question

★★★★★

Question: What is the role of the default keyword in Java interfaces? A) It allows interface methods to have a body with a default implementation. B) It makes the interface methods static and...

Answered: 1 week ago

Question

★★★★★

Question: What is the effect of using the synchronized keyword on a method in Java? A) It makes the method execute faster by reducing CPU usage. B) It allows multiple threads to execute the method...

Answered: 1 week ago

Question

★★★★★

Question: What happens when a Java class is declared as abstract? A) It can be instantiated directly. B) It cannot have any constructor. C) It must contain at least one abstract method. D) It cannot...

Answered: 1 week ago

Question

★★★★★

Question: What is the purpose of the final keyword when applied to a method in Java? A) It prevents the method from being called. B) It makes the method execute only once. C) It prevents the method...

Answered: 1 week ago

Question

★★★★★

Question: What does the final keyword indicate when applied to a class in Java? A) The class can be inherited but cannot be subclassed. B) The class cannot be subclassed. C) The class can only be...

Answered: 1 week ago

Question

★★★★★

5-50. Based on the information, I think we should buy the property.

Answered: 1 week ago

Question

★★★★★

5-38. It has been learned in Ottawa today from generally reliable sources that an important announcement will be made shortly by the prime minister.

Answered: 1 week ago

Question

★★★★★

5-49. Lying on the shelf, Ruby saw the seashell.

Answered: 1 week ago

Previous Question Next Question