Computer equipment estimated to cost $10,000 will be needed to replace old equipment in 5 years. What amount must be put into a sinking fund every 6 months if the semiannual interest rate is 3.5 percent. Add your answer Integer, decimal, or E notation allowed

Computer equipment estimated to cost $10,000 will be needed to replace old equipment in 5 years. What amount must be put into a sinking fund every 6 months if the semiannual interest rate is 3.5 percent. Add your answer Integer, decimal, or E notation allowed

Financial Accounting Intro Concepts Meth/Uses

14th Edition

ISBN:9781285595047

Author:Weil

Publisher:Weil

ChapterA: Appendix - Time Value Of Cash Flows: Compound Interest Concepts And Applications

Section: Chapter Questions

Problem 23E

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Question

Computer equipment estimated to cost $10,000 will be needed to replace old equipment in 5 years. What amount must be put into
a sinking fund every 6 months if the semiannual interest rate is 3.5 percent.
Add your answer
Integer, decimal, or E notation allowed

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