Question list K Find the interest rate needed for the sinking fund to reach the required amount. Assume that the compounding period is the same as the payment period. $15,903 to be accumulated in 3 years; quarterly payments of $1200 Question 1 Question 2 The interest rate needed is approximately ☐ %. (Type an integer or decimal rounded to two decimal places as needed.)
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- Find the interest rate needed for the sinking fund to reach the required amount. Assume that the compounding period is the same as the payment period. $21,657 to be accumulated in 4 years; quarterly payments of $1225.Find the amount of each payment to be made into a sinking fund so that enough will be present to accumulate the following amount. Payments are made at the end of each period. The interest rate given is per period. Round answer to the nearest cent.1 $79,000; money earns 6% compounded semiannually for 13 years 2A. $1,335.44B. $1,940.57OC. $982.92OD. $1,152.81Using the sinking fund Table 13.3, complete the following: (Do not round intermediate calculations. Round your answer to the nearest cent.) Frequency of payment Payment amount end of each Required Interest Length of time amount rate period 24,700 Quarterly 5 years 8% acer %24
- Using the sinking fund formula or a financial calculator, complete the following: (Do m answer to the nearest cent.) $ Required amount 24,900 Frequency of payment Quarterly Length of time 7 years Interest rate 8 % Payment amount end of each periodFind the amount of each payment to be made into a sinking fund so that enough will be present to accumulate the following amount. Payments are made at the end of each period. The interest rate given is per period. Round answer to the nearest cent. $79,000; money earns 6% compounded semiannually for 13- 1 13 years A. $1,335.44 B. $1,940.57 ○ C. $982.92 D. $1,152.81Find the amount of periodic payment necessary for the deposit to a sinking fund. (Round your answer to the nearest cent.)$ Amount Needed A Frequency n Rate r Time t $70,000 semiannually 3% 15 yr
- For the sinking fund, use Table 12-1 to calculate the amount (in $) of the periodic payments needed to amount to the financial objective (future value of the annuity). (Round your answer to the nearest cent.) Sinking FundPayment PaymentFrequency Time Period(years) NominalRate (%) InterestCompounded Future Value(Objective) $ every year 14 8 annually $450,000 TABLE 12:1is attacheddetermine the size of the payments that must be made to a sinking fund in order to accumulate $233,188 if the interest rate is 5.25% compounded quarterly and payments are made for 7 1/4 years. Use TVM solverK Find the amount of each payment into a sinking fund if $14,000 must be accumulated Payments are made at the end of each quarter for 3 years, with interest of 6% compounded quarterly Round to the nearest cent Click here to view part 1 of the Sinking Fund table. Click here to view part 2 of the Sinking Fund table. OA. $829.92 OB. $4,597 32 OC. $1,180.06 OD. $1,073.52
- 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 = $1,000,000, r = 5.8%, compounded semiannually for 30 yearsCalculate the present value of the following single amounts. (FV of $1, PV of $1, FVA of $1, and PVA of $1) (Use appropriate factor(s) from the tables provided. Round your answers to 2 decimal places.) Future Value Annual Rate Interest Compounded Period Invested Present Value 1. $8,300 4 % Annually 3 years $7,378.70 2. 5,300 10 % Semiannually 6 years 4,578.35 3. 4,300 8 % Quarterly 2 yearsFind the amount of periodic payment necessary for the deposit to a sinking fund. Amount Needed A $120,000 Frequency n quarterly Rate r 8% Time t 25 yr