Use the sinking fund formula to determine the payment needed to reach the accumulated amount. To ensure

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Use the sinking fund formula

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to determine the payment needed to reach the accumulated amount. To ensure that enough is invested each period, round each answer up to the next cent.

Quarterly payments with a 10% interest rate compounded quarterly for 40 years to accumulate $1,000,000.

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A Survey of Mathematics with Applications

ISBN: 978-0134112107

10th edition

Authors: Allen R. Angel, Christine D. Abbott, Dennis Runde

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Question Posted: Jan 29, 2019 04:38 AM

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Use the sinking fund formula to determine the payment needed to reach the accumulated amount. To ensure

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A Survey of Mathematics with Applications

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