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16 March, 17:43

Find the amount of payment into a sinking fund.

Amount Needed: $57,000

Years Until Needed: 3

Interest Rate: 6%

Interest Compounded: Semiannually

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Answers (1)
  1. 16 March, 21:11
    0
    57000=X [ ((1-0.06/2) ^ (2*3) - 1) / (0.06/2) ]

    Solve for x

    X=8812.06
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