Find the size of each of 9 payments made at the end of each year into a 8% rate sinking fund which produces $37000 at the end of 9 years. K The payment size is $ (Round to the nearest cent.)
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- Find the size of each of 8 payments made at the end of each year into a 9% rate sinking fund which produces 55000 at the end of 8 years. payment sizeFind the amount of each payment to be made into a sinking fund which earns 8% compounded quarterly and produces $49,000 at the end of 4.5 years. Payments are made at the end of each period. The payment size is $ . (Round to the nearest cent.)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 each payment to be made into a sinking fund earning 7% compounded monthly to accumulate $66,000 over 6 years. Payments are made at the end of each period. The payment size is $ (Round to the nearest cent.)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.)If K40, 000 is deposited at the end of each half year in an account that earns 6.2% compounded semiannually, how long will it be before the account contains k1, 200, 000? b. When you establish a sinking fund, which interest rate is better? Explain.i. (a) 10% (b) 6% ii. (a) 12% compounded monthly (b) 12% compounded annuallyc. If k2500 is deposited at the end of each quarter in an account that earns 5% compounded quarterly, after how many quarters will the account contain k80, 000?d. A lottery prize worth k 2,400,000 is awarded in payments of k 20,000 at the beginning of each month for 20 years. Suppose money is worth 7.8%, compounded monthly. What is the real value of the prize?e. A couple who borrow K90, 000 for 30 years at 7.2%, compounded monthly, must make monthly payments of K610.91. (a) Find their unpaid balance after 1 year.(b) During that first year, how much interest do they pay?f. The first term of a GP represents the number of tins of beans sold in Food Lovers the week before…
- Find the periodic payment for each sinking fund that is needed to accumulate the given sum under the given conditions. (Round your answer to the nearest cent.) FV = $1,900,000, r = 9%, compounded monthly for 25 yearsUse the sinking fund formula shown to the right to determine the monthly payment needed to accumulate $340,000 with 5% interest are compounded monthly for 21 years. A p = nt - 1 The monthly invested payment is $ (Round up to the nearest cent.)Use the sinking fund formula shown to the right to determine the monthly payment needed to accumulate $620,000 with 8% interest are compounded monthly for 32 years. p=Arn1+rnnt−1 The monthly invested payment is
- Use the sinking fund formula shown to the right to determine the semiannual payments with 6% interest are compounded semiannually for 4 years to accumulate $17,000. p=Arn1+rnnt−1 The semiannual invested payment is $What sinking fund payment is required at the end of each 6-month period, at 6% interest compounded semi-annually, to amount to P120,000 in 4 years?Use the accompanying sinking fund formula to determine the payment needed to reach the accumulated amount. Monthly payments with 7% interest are compounded monthly for 21 years to accumulate $620,000 p=Arn1+rnnt−1