Question
For the sinking funds, use Table 12-1 from your text to calculate the amount of the periodic payments needed to amount to the financial objective
For the sinking funds, use Table 12-1 from your text to calculate the amount of the periodic payments needed to amount to the financial objective (future value of the annuity), rounding to the nearest cent:
| Sinking Fund | Payment | Time | Nominal | Interest | Future Value |
| Payment | Frequency | Period | Rate | Compounded | (Objective) |
| __________ | every month | 2 years | 18% | monthly | $40,000 |
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Fundamental Managerial Accounting Concepts
Authors: Thomas Edmonds, Christopher Edmonds, Bor Yi Tsay, Philip Old
7th edition
978-0077632427, 77632427, 78025656, 978-0078025655
