Question
A local Dunkin Donuts franchise must buy a new piece of equipment in 5 years that will cost $88,000. The company is setting up a
| A local Dunkin Donuts franchise must buy a new piece of equipment in 5 years that will cost $88,000. The company is setting up a sinking fund to finance the purchase. What will the quarterly deposit be if the fund earns 8% interest? (Do not round intermediate calculations. Round your answer to the nearest cent.) |
| Quarterly deposit | $ |
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Focus On Personal Finance
Authors: Jack Kapoor, Les Dlabay, Robert J. Hughes
2nd Edition
0073530638, 9780073530635
