Question
*Solve Using BA II Calculator* Skywalker and Company want to build up a fund of $100,000 to replace capital equipment in 15 years. They make
*Solve Using BA II Calculator*
Skywalker and Company want to build up a fund of $100,000 to replace capital equipment in 15 years. They make equal payments into the sinking fund at the beginning of every three months. Interest earned by the fund is 12% compounded quarterly.
Answer as follows:
Answer Box 1: The size of the quarterly payments.
Answer Box 2: The accumulated value in the fund at the end of the 40th payment interval.
Answer Box 3: The interest earned by the fund in the 41st payment interval.
Answer Box 4: The increase in the fund in the 41st interval.
Give all answers rounded to two decimal places. Do not include $ or commas.
My answers which were incorrect below:
Answer for blank # 1: | 595.43 | |
Answer for blank # 2: | 44896.17 | |
Answer for blank # 3: | 1346.89 | |
Answer for blank # 4: | 1942.32 |
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