Question
DAD Company established a sinking fund in order to accumulate Php150,000 by depositing equal amounts of money at the end of every 3 months for
DAD Company established a sinking fund in order to accumulate Php150,000 by depositing equal amounts of money at the end of every 3 months for 2 years. If the fund was earning interest at 10% compounded quarterly, how much is the interest earned on the 8th payment?
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Contemporary Business Mathematics with Canadian Applications
Authors: S. A. Hummelbrunner, Kelly Halliday, K. Suzanne Coombs
10th edition
133052311, 978-0133052312
