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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 $70,000 semiannually 3% 10 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
A

Frequency
n

Rate
r

Time
t

$70,000

semiannually

10 yr

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