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For the sinking fund, calculate (Round your answer to the nearest dollar): a. The size of the periodic sinking fund payment. PMT $ b. The
For the sinking fund, calculate (Round your answer to the nearest dollar): |
a. | The size of the periodic sinking fund payment. | |
PMT | $ | |
b. | The balance in the sinking fund at the time indicated in the last column. (Round the sinking fund payment to the nearest dollar before calculating the balance.) | |
FV | $ |
End-of-term | Payment at | Calculate | |||
amount of | Sinking | Payment and | beginning | balance at | |
sinking fund | Term | fund rate | compounding | or end | the end of |
($ millions) | (years) | of return (%) | interval | of interval? | interval |
7 | 10 | 3 | 6 months | End | 6 |
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