Business, 19.07.2021 16:00 wulfredo67

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. $77,000; money earns 4.5% compounded monthly for 1-2/3 years

Select one:
a. $719.42
b. $3714.64
c. $758.89
d. $1374.87

b. If you deposit $2000 into a fund paying 4% interest compounded monthly, how much can you withdraw at the end of each month for one year?

a. $177.48
b. $153.36
c. $189.12
d. $170.30
e. none of these

Answers: 2

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Find the amount of each payment to be made into a sinking fund so that enough will be present to acc...