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For the sinking fund below, compute (a) the size of the periodic payment and (b) the accumulated balance at the time indicated. Amount of Sinking
For the sinking fund below, compute (a) the size of the periodic payment and (b) the accumulated balance at the time indicated. Amount of Sinking Fund Payment Interval Payments Made At: Term $7,000 6 months end Interest Rate 5% Conversion Period semi-annually 5 years Accumulated Balance After payment 5 (a) The size of the periodic payment is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) (b) The accumulated balance is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
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