jocekinn jocekinn

15-04-2017
Mathematics

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Find the amount of payment into a sinking fund.

Amount Needed: $57,000

Years Until Needed: 3

Interest Rate: 6%

Interest Compounded: Semiannually

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Aliwohaish12 Aliwohaish12

15-04-2017

57000=X [((1-0.06/2)^(2*3)-1)/(0.06/2)]
Solve for x
X=8812.06

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