A business must raise $50,000 in 9 years. What should be the size of the owners' quarterly payment to a sinking fund paying 4% compounded quarterly? (Round your answer to the nearest cent.) 24

Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
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A business must raise $50,000 in 9 years. What should be the size of the owners' quarterly payment to a sinking fund paying 4%
compounded quarterly? (Round your answer to the nearest cent.)
2$
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Transcribed Image Text:MY NOTES ASK YOUR TEACHER A business must raise $50,000 in 9 years. What should be the size of the owners' quarterly payment to a sinking fund paying 4% compounded quarterly? (Round your answer to the nearest cent.) 2$ Need Help? Read It
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