Find the amount of periodic payment necessary for the deposit to a sinking fund. (Round your answer to the nearest cent.) $ Amount Needed Frequency Rate Time A n r t $45,000 monthly 7% 25 yr
Find the amount of periodic payment necessary for the deposit to a sinking fund. (Round your answer to the nearest cent.) $ Amount Needed Frequency Rate Time A n r t $45,000 monthly 7% 25 yr
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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Question
![Find the amount of periodic payment necessary for the deposit to a sinking fund. (Round your answer to the nearest cent.)
$
Amount Needed Frequency
Rate
Time
A
n
r
t
$45,000
monthly
7%
25 yr](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fc5f5016b-34c0-49cf-ba4e-b65755cc3dbd%2F55c0c63f-fecb-4e70-a1b9-ddc05a424e83%2F14y1uzr_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Find the amount of periodic payment necessary for the deposit to a sinking fund. (Round your answer to the nearest cent.)
$
Amount Needed Frequency
Rate
Time
A
n
r
t
$45,000
monthly
7%
25 yr
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