Author Question: What sinking fund payment would you need to make at the END of each three months, at 12 interest ... (Read 106 times)

pepyto · **on:** Jun 24, 2018

What sinking fund payment would you need to make at the END of each three months, at 12 interest compounded quarterly, to amount to 3,500 in 4 years? (Use Table 12-1 from your text)
A) 232.93
B) 732.32
C) 481.05
D) 173.64

Question 2

Dempsey Electric wishes to pay off a debt of 28,000 in 3 years. What amortization payment would they need to make every month, at 12 interest compounded monthly? (Use Table 12-2 from your text)
A) 625.00
B) 844.12
C) 930.00
D) 706.10