For each of the sinking funds, calculate (rounded to the nearest dollar): a. The size of the
Question:
a. The size of the periodic sinking fund payment.
b. The balance in the sinking fund at the time indicated in the last column. (Round the sinking fund payment to the nearest dollar before calculating the balance.)
Discuss.
Transcribed Image Text:
End-of-term amount of sinking fund ($ millions) Payment at beginning Sinking fund rate of return (%) Payment and compounding interval Calculate balance at the end of interval Term (years) or end of interval? 3 months End
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