Answered: 17. Four Seasons Pools needs $115,000…

17. Four Seasons Pools needs $115,000 in 3 years. Find the required quarterly payment into a sinking fund if funds are invested in an account earning 8% per year compounded quarterly.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

17. Four Seasons Pools needs $115,000 in 3 years. Find
the required quarterly payment into a sinking fund if
funds are invested in an account earning 8% per year
compounded quarterly.

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