Question
To provide for expansion, a company has established a sinking fund earning 8% monthly. The fund is anticipated to reach a balance of $52,000 in
To provide for expansion, a company has established a sinking fund earning
8%
monthly.
The fund is anticipated to reach a balance of
$52,000
in
14
years. Payments are made at the beginning of every month.
(a) What is the size of the periodic payment?
(b) What is the accumulated balance at the end of payment period 46?
(a) The size of the periodic payment is
$nothing.
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Marketing Audit Guide What It Is Why Your Business Needs One And How To Do It
Authors: Susan G Tyson
1st Edition
B0C12D3DD6, 979-8388994868
