Question
Mike wants to save $47000 through semi annual payments over the next 6 years. If the interest rate is j2 = 7.1%, complete the first
Mike wants to save $47000 through semi annual payments over the next 6 years. If the interest rate is j2 = 7.1%, complete the first three lines of the sinking fund schedule. NOTE: Round the deposit appropriately and use this value in further calculations. Schedule:
Schedule:
| Deposit number | Interest | Deposit | Increase | Amount |
| 0 | ||||
| 1 | ||||
| 2 |
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The Economics Of Money Banking And Financial Markets
Authors: Frederic S. Mishkin
9th Edition
0321598903, 978-0321598905
