Question
A company estimates that it will need $56,000 in 8 years to replace a computer. If it establishes a sinking fund by making fixed monthly
A company estimates that it will need $56,000 in 8 years to replace a computer. If it establishes a sinking fund by making fixed monthly payments into an account paying 3.6% compounded monthly, how much should each payment be?
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Finance And Profitability
Authors: David Irwin
1st Edition
1854180649, 9781854180643
