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A. Solve by using the sinking fund or amortization formula, A manufacturing company has determined that it will need $600,000 in 7 years for a
A. Solve by using the sinking fund or amortization formula, A manufacturing company has determined that it will need $600,000 in 7 years for a new roof on its southeastern regional warehouse. A sinking fund is established for the roof at 3.6% compounded semiannually. What equal payments (in $) are required every 6 months to accumulate the needed funds for the roof? (Round your answer to the nearest cent.) S(No Response) A manufacturing company has determined that it will need $600,000 in 7 years for a new roof on its southeastern regional warehouse. A sinking fund is established for the roof at 3.6% compounded semiannually. What equal payments (in $) are required every 6 months to accumulate the needed funds for the roof? (Round your answer to the nearest cent.) $(No Response) End of document B. Solve by using tables Table 12-1 and Table 12-2. Paul and Don Kolsch are planning a Mediterranean cruise in 5 years and will need $5,500 for the trip. They decide to set up a "sinking fund" savings account for the vaca- tion. They intend to make regular payments at the end of each 3-month period into the account that pays 6% interest compounded quarterly. What periodic sinking fund pay- ment (in $) will allow them to achieve their vacation goal? (Round your answer to the nearest cent.) $ Solve by using the sinking fund or amortization formula. (Round your answer to the nearest cent.) Sinking fund payment in $1 Sinking Fund Payment Payment Frequency Time Nominal Period (yen Rate) ) 8 Interest Compounded Future Value Objective) Sino Sto Response) every 3 months j G.0 quarterly $7,000 C. Solve by using the sinking fund or amortization formula
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