FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Find the interest rate needed for the sinking fund to reach the required amount. Assume that the compounding period is the same as the payment

image text in transcribed
Find the interest rate needed for the sinking fund to reach the required amount. Assume that the compounding period is the same as the payment period. $120,000 to be accumulated in 15 years; quarterly payments of $1200. Round to the nearest hundredth. O A. 6.49% OB. 6.41% OC. 6.46% OD 6.43%

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Understanding Futures Markets

Understanding Futures Markets

Authors: Robert Kolb, James Overdahl

6th Edition

1405134038, 9781405134033

More Books

Students also viewed these Finance questions

Question

★★★★★
Scoop Consulting Services trial balance on December 31, 2014, is as follows. The following information is also available: a. Ending inventory of office supplies, $564 b. Prepaid rent expired, $470 c....

Answered: 1 week ago

Question

★★★★★
For a population containing N = 902 individuals, what code number would you assign for a. The first person on the list? b. The fortieth person on the list? c. The last person on the list?

Answered: 1 week ago

Question

★★★★★
3 What would be your view of the type of change created in solution- focused coaching: incremental or disruptive change?

Answered: 1 week ago

Question

★★★★★
Fountain Corporations economists estimate that a good business environment and a bad business environment are equally likely for the coming year. The managers of Fountain must choose between two...

Answered: 1 week ago

Question

★★★★★
Zeman, Inc. declares and distributes a? 10% common stock dividend when it has 10,000 shares of $10 par value common stock outstanding. If the market value of the common stock is $30?,the journal...

Answered: 1 week ago

Question

★★★★★
You work for a large investment management firm. The analysts with your firm have made the following forecasts for the returns of stock A and stock B: VERY VERY WEAK VERY WEAK WEAK AVERAGE STRONG...

Answered: 1 week ago

Question

★★★★★
Consider the effects on fast-food restaurants if the minimum wage is raised to $15 an hour. Is this a change in demand or supply? Which acronym for non-price determinants applies: TRIBE or ROTTEN?...

Answered: 1 week ago

Question

★★★★★
Based on Lab 2-4 Excel Sensitivity Analysis of Profitability under Changing Volume, Sales Price, and Fixed and Variable Cost Assumptions, using the Exhibit below, answer the following question. A...

Answered: 1 week ago

Question

★★★★★
Q4, 1 point for each question) Short answer questions: 1) Give an example about discretionary dependency between two activities 2) Name two inputs that you need to develop a communication plan 3)...

Answered: 1 week ago

Question

★★★★★
18. Label the graph below using the measurements of central tendency (mean, median and mode). Arrival after the scheduled class hour Histogram Count 45 40 35 30- 25 20 15 10- 5 10 8 10 Minute_late...

Answered: 1 week ago

Question

★★★★★
Q1: Outline different ways in which the restaurant can create value. Q2: Attempt to apply SWOT, VCA, and RBV to yourself and your career aspirations (lecturer). What are your major strengths and...

Answered: 1 week ago

Question

★★★★★
Why should an individual manager be interested in supporting HR?

Answered: 1 week ago

Question

★★★★★
Why might a department manager have to remind HR about an aspect of the performance appraisal process?

Answered: 1 week ago

Question

★★★★★
Why do many organizations require that significant disciplinary actions be cleared with HR before they are implemented?

Answered: 1 week ago

Previous Question Next Question