Answered step by step
Verified Expert Solution
Question
1 Approved Answer
solve d, e, f and draw cash-flow diagram for each. a. 13. What equal series of payments must be put into a sinking fund to
solve d, e, f and draw cash-flow diagram for each.
a. 13. What equal series of payments must be put into a sinking fund to accumulate the following amounts? $65,000 in 15 years at 15% compounded annually when payments are an- nual. Answer: $1,365 b. $6,500 in 7 years at 11% compounded annually when payments are annual. $13,000 in 58 years at 13% compounded annually when payments are annual d. $2,000 in 6 years at 11% compounded annually when payments are annual. $5,200 in 42 years at 8.2% compounded annually when payments are annual. f. $90,000 in 75 years at 6.5% compounded annually when payments are annual c. eStep by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started