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MANUAL COMPUTATION PLEASE ANSWER ASAP Pendant publishing requires $125,000 15 years from now to retire a debt. They set up sinking fund and make equal

MANUAL COMPUTATION PLEASE ANSWER ASAP

Pendant publishing requires $125,000 15 years from now to retire a debt. They set up sinking fund and make equal month end payments at an interest rate of 7.8% compounded monthly. What is the balance in the sinking fund just after the 60th payment is made?

a. 1862.46

b. 1850.40

c. 26875.60

d. 26,701.63

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