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i need to know how to get the final answer is $3013.78 but unfortunaley i dont know what to do when i get to this
i need to know how to get the final answer is $3013.78 but unfortunaley i dont know what to do when i get to this part. 33,000=(10.9497) k 5.3 - 11 Ed 5 of 10 (4 complete) Sin Help Me Solve This X Question Help Find the amount of each payment to be made into a sinking fund which earns 8% compounded quarterly and produces $33,000 at the end of 2.5 years. Payments are made at the end of each period. A fund set up to receive periodic payments is called a sinking fund. The periodic payments, together with their interest, are designed to produce a given amount at some future time. (1+1)"-1 The formula for a sinking fund is FV = PMT where n payments of PMT dollars are made at the end of each interest period, with interest compounded at a rate i per period. The interest rate is compounded quarterly. Find n, the number of periods until FV is paid. n = 10 Find i, the quarterly interest rate for the annuity. i= 0.02 Type an integer or a decimal.) Substitute the values for FV. n, and i into the equation and simplify
i need to know how to get the final answer is $3013.78 but unfortunaley i dont know what to do when i get to this part. 33,000=(10.9497)
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