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A corporation starts making quarterly payments into a sinking fund in order to have $850,000 in 10 years, assuming an annual interest rate of 6.8%
A corporation starts making quarterly payments into a sinking fund in order to have $850,000 in 10 years, assuming an annual interest rate of 6.8% compounded quarterly. How much interest will be earned over the life of the fund?
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we can use the formula for compound interest A P1 rnnt A 8500001 00684410 A 8500001 001740 A 850000...
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Contemporary Business Mathematics With Canadian Applications
Authors: Ali R. Hassanlou, S. A. Hummelbrunner, Kelly Halliday
12th Edition
0135285011, 978-0135285015
