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Find the quarterly payment for a sinking fund that needs to accumulate $2,100,000, assuming an annual interest rate of 6.4%, compounded quarterly for 25 years.
Find the quarterly payment for a sinking fund that needs to accumulate $2,100,000, assuming an annual interest rate of 6.4%, compounded quarterly for 25 years. I have alot of trouble with the sinking fund stuff... can someone explain to me how to use the formula? thanks |
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