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Find the sinking fund payment you would need to make at the end of each year, at 5% interest compounded annually, to amount to $8,000
Find the sinking fund payment you would need to make at the end of each year, at 5% interest compounded annually, to amount to $8,000 in 2 years. (Use the appropriate formula)
$2,719.86 | ||
$1,537.27 | ||
$2,128.56 | ||
$3,902.44 |
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