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Author Question: What sinking fund payment would you need to make at the END of each three months, at 12 interest ... (Read 105 times)

pepyto

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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


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reelove4eva

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Reply #1 on: Jun 24, 2018
Answer to Question 1

D

Answer to Question 2

C


pepyto

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Reply 2 on: Jun 24, 2018
Excellent

jordangronback

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Reply 3 on: Yesterday
:D TYSM

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