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A company estimates that it will need $168,000 in 18 years to replace a computer. If it establishes a sinking fund by making fixed monthly
A company estimates that it will need $168,000 in 18 years to replace a computer. If it establishes a sinking fund by making fixed monthly payments into an account paying 6.3% compounded monthly, how much should each payment be? The amount of each payment should be $ (Round to the nearest cent.) In order to accumulate enough money for a down payment on a house, a couple deposits $684 per month into an account paying 3% compounded monthly. If payments are made at the end of each period, how much money will be in the account in 6 years? Type the amount in the account: $ (Round to the nearest dollar.)
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