This topic contains a solution. Click here to go to the answer

Author Question: Kirk wishes to accumulate 10,000 in 3 years for a down payment on a house. Use Table 12-1 from your ... (Read 71 times)

AEWBW

  • Hero Member
  • *****
  • Posts: 579
Kirk wishes to accumulate 10,000 in 3 years for a down payment on a house. Use Table 12-1 from your text to find the sinking fund payment he would need to make at the END of every month, at 6 interest compounded monthly.
 A) 2,773.58
  B) 3,733.58
  C) 254.22
  D) 356.59

Question 2

Hot Wheels Depot needs to accumulate 25,000 in 6 years to purchase new equipment. What sinking fund payment would they need to make at the END of every three months, at 8 interest compounded quarterly? (Use Table 12-1 from your text)
 A) 821.78
  B) 679.42
  C) 545.96
  D) 620.42



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

Danny Ewald

  • Sr. Member
  • ****
  • Posts: 332
Answer to Question 1

C

Answer to Question 2

A




AEWBW

  • Member
  • Posts: 579
Reply 2 on: Jun 24, 2018
Thanks for the timely response, appreciate it


lindahyatt42

  • Member
  • Posts: 322
Reply 3 on: Yesterday
:D TYSM

 

Did you know?

A cataract is a clouding of the eyes' natural lens. As we age, some clouding of the lens may occur. The first sign of a cataract is usually blurry vision. Although glasses and other visual aids may at first help a person with cataracts, surgery may become inevitable. Cataract surgery is very successful in restoring vision, and it is the most frequently performed surgery in the United States.

Did you know?

Carbamazepine can interfere with the results of home pregnancy tests. If you are taking carbamazepine, do not try to test for pregnancy at home.

Did you know?

In 2006, a generic antinausea drug named ondansetron was approved. It is used to stop nausea and vomiting associated with surgery, chemotherapy, and radiation therapy.

Did you know?

There are 20 feet of blood vessels in each square inch of human skin.

Did you know?

The shortest mature adult human of whom there is independent evidence was Gul Mohammed in India. In 1990, he was measured in New Delhi and stood 22.5 inches tall.

For a complete list of videos, visit our video library