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The Department of Public Works for the Town of Hempstead is anticipating the purcha.se of a dump truck to replace one of the older trucks
The Department of Public Works for the Town of Hempstead is anticipating the purcha.se of a dump truck to replace one of the older trucks being used by the department, one that has been driven extensively by Vinnie from Hempstead. After talking to Crown Ford, they anticipate that they will need to have $160.000 available for the purchase in five years. They decide to make quarterly payments into a sinking fund for this purpose. Create a table in Excel using the headings below which will calculate each payment and its interest. The fund will earn 4.8% annual interest compounded quarterly
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