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

Q: P​ =​$170​ r​ =5​% t​ =2years

A: Given data: The principal P = $170 is borrowed. The rate of interest, r = 5% Time, t = 2 years

Q: Find the amount of periodic payment necessary for the deposit to a sinking fund. (Round your answer…

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Q: Find the amount of periodic payment necessary for the deposit to a sinking fund. (Round your answer…

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Q: Find the amount of periodic payment necessary for the deposit to a sinking fund. (Round your answer…

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Q: Find the amount of periodic payment necessary for the deposit to a sinking fund. (Round your answer…

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Q: Find the amount of periodic payment necessary for the deposit to a sinking fund. (Round your answer…

A: Monthly Payment Calculation:We can use the following formula to calculate the monthly payment (PMT)…

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A: Loan Amortization Formula PMT=Pr1+rn1+rn-1 Where 'PMT' is periodic payment, 'P' is loan amount, 'r'…

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Q: Find the amount of periodic payment necessary for the deposit to a sinking fund. (Round your answer…

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