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Author Question: Second Hand Software needs to accumulate 12,000 in 3 years to meet future needs. What sinking fund ... (Read 73 times)

maychende

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on: Jun 24, 2018
Second Hand Software needs to accumulate 12,000 in 3 years to meet future needs. What sinking fund payment would they need to make at the end of each year, at 6 interest compounded annually? (Use Table 12-1 from your text)
 A) 4,110.34
  B) 3,769.32
  C) 4,392.65
  D) 4,634.15

Question 2

What amortization payment would you need to make every month, at 12 interest compounded monthly, to pay off a loan of 8,500 in 3 years? (Use Table 12-2 from your text)
 A) 3,538.97
  B) 282.32
  C) 197.32
  D) 279.53


briezy

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

B

Answer to Question 2

B


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