A local Dunkin' Donuts franchise must buy a new piece of equipment in 5 years that will cost $88,000. The company is setting up a sinking fund to finance the purchase. What will the quarterly deposit be if the fund earns 8% interest? (Use Table 13.3.) Note: Do not round intermediate calculations. Round your answer to the nearest cent. Quarterly deposit $ 3,621.79
A local Dunkin' Donuts franchise must buy a new piece of equipment in 5 years that will cost $88,000. The company is setting up a sinking fund to finance the purchase. What will the quarterly deposit be if the fund earns 8% interest? (Use Table 13.3.) Note: Do not round intermediate calculations. Round your answer to the nearest cent. Quarterly deposit $ 3,621.79
Chapter16: Working Capital Policy And Short-term Financing
Section: Chapter Questions
Problem 14P
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![C Problems i
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A local Dunkin' Donuts franchise must buy a new piece of equipment in 5 years that will cost $88,000. The company is setting up a
sinking fund to finance the purchase. What will the quarterly deposit be if the fund earns 8% interest? (Use Table 13.3.)
Note: Do not round intermediate calculations. Round your answer to the nearest cent.
Quarterly deposit
$
3,621.79
H](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F932e509c-e972-41d8-870f-ce2838d9872c%2F99ec96aa-ce4a-4786-8bb2-791815b3829b%2F2ld9nxg_processed.png&w=3840&q=75)
Transcribed Image Text:C Problems i
Saved
A local Dunkin' Donuts franchise must buy a new piece of equipment in 5 years that will cost $88,000. The company is setting up a
sinking fund to finance the purchase. What will the quarterly deposit be if the fund earns 8% interest? (Use Table 13.3.)
Note: Do not round intermediate calculations. Round your answer to the nearest cent.
Quarterly deposit
$
3,621.79
H
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