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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 137 times)

AEWBW

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on: Jun 24, 2018
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


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Danny Ewald

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

C

Answer to Question 2

A


AEWBW

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Reply 2 on: Jun 24, 2018
Great answer, keep it coming :)

lindahyatt42

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Reply 3 on: Yesterday
Excellent

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