A sinking fund is established to discharge a debt of $30,000 in 15 years. If deposits are made at the end of each 6-month period and interest is paid at the rate of 7%, compounded semiannually, what is the each deposit? (Round your answer to the nearest cent) $11400361 x Need Help?

A sinking fund is established to discharge a debt of $30,000 in 15 years. If deposits are made at the end of each 6-month period and interest is paid at the rate of 7%, compounded semiannually, what is the each deposit? (Round your answer to the nearest cent) $11400361 x Need Help?

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

ChapterM: Time Value Of Money Module

Section: Chapter Questions

Problem 2E: Future Value Hugh Colson deposited 20,000 in a special savings account that provides for interest at...

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A sinking fund is established to discharge a debt of $30,000 in 15 years. If deposits are made at the end of each 6-month period and interest is paid at the rate of 7%, compounded semiannually, what is the a
each deposit? (Round your answer to the nearest cent)
$11420001
x
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