Find the amount of each payment to be made into a sinking fund earning 7% compounded monthly to accumulate $70,000 over 9 years. Payments are made at the end of each period. Question content area bottom Part 1 The payment size is Senter your response here. (Do not round until the final answer. Then round to the nearest cent.)

Find the amount of each payment to be made into a sinking fund earning 7% compounded monthly to accumulate $70,000 over 9 years. Payments are made at the end of each period. Question content area bottom Part 1 The payment size is Senter your response here. (Do not round until the final answer. Then round to the nearest cent.)

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 5RE: Next Level Potter wishes to deposit a sum that at 12% interest, compounded semiannually, will permit...

See similar textbooks

Similar questions

Suppose you would like to invest your money for your future. You have threechoices of funding agencies namely, FA 1, FA 2, and FA 3. Based on the givendata below, compute for the future interest of each funding agency. What would you choose? Explain your answer.
See pic
Find the amount of periodic payment necessary for the deposit to a sinking fund. (Round your answer to the nearest cent.) Amount Needed A Frequency Rate Time $120.000 quarterly 9% 25 vr
Find the amount accumulated FV in the given annuity account. (Assume end-of-period deposits and compounding at the same intervals as deposits. Round your answer to the nearest cent.) $200 is deposited monthly for 10 years at 6% per year in an account containing $9,000 at the start FV = $ 49150 Need Help? Read It Watch It Submit Answer
Find the amount of each payment to be made into a sinking fund earning 8% compounded monthly to accumulate $51,000 over 8 years. Payments are made at the end of each period The payment size is s (Do not round until the final answer. Then round to the nearest cent.) TE
Find the amount of periodic payment necessary for the deposit to a sinking fund. (Round your answer to the nearest cent.)$ Amount Needed A Frequency n Rate r Time t $90,000 semiannually 2% 15 yr
Find the amount accumulated FV in the given annuity account. (Assume end-of-period deposits and compounding at the same intervals as deposits. Round your answer to the nearest cent.) $2,200 is deposited quarterly for 20 years at 3% per year FV = $ Need Help? Read It Watch It Submit Answer
Please provide all answers correctly
Please need help to calculate attached 2 questions in excel formula Thanks
Find the present value of an annuity with payments of $1,250 at the end of each year for 7 years. The interest rate is 5% compounded annually. Question content area bottom Part 1 The present value of the annuity is $enter your response here. (Round the final answer to the nearest cent as needed.
Find the amount of each payment to be made into a sinking fund earning 7 % compounded monthly to accumulate $33,000 over 9 years. Payments are made at the end of each period. The payment size is $ (Do not round until the final answer. Then round to the nearest cent.)
Your RRSP savings of $52,500 are converted to a RRIF at 4.22% compounded monthly that pays $5,372 at the beginning of every month. After how many payments will the fund be depleted? Round to the next payment ✓ SUBMIT QUESTION SANPE PROGRESS Tagay