Question
A regular saving of $500 is made into a sinking fund at the start of each year for 10 years. Determine the value of the
A regular saving of $500 is made into a sinking fund at the start of each year for 10 years. Determine the value of the fund at the end of the 10th year on the assumption that the rate of interest is
a)11% compound annually,
b)10% compound continously
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Financial Management Theory and Practice
Authors: Eugene Brigham, Michael Ehrhardt, Jerome Gessaroli, Richard Nason
2nd Canadian edition
176517308, 978-0176517304
