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14 November, 03:32

Find the amount of payment into a sinking fund.

Amount Needed: $23,000

Years Until Needed: 10

Interest Rate: 4%

Interest Compounded: Quarterly

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  1. 14 November, 04:29
    0
    23000=X [ ((1+0.04/4) ^ (4*10) - 1) / (0.04/4) ]

    Solve for x

    X=470.48
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