Kirk wishes to accumulate 10,000 in 3 years for a down payment on ...

[AEWBW]

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

[Danny Ewald]

Answer to Question 1

C

Answer to Question 2

A

[AEWBW]

Excellent

[milbourne11]

Thanks for the timely response, appreciate it