What equal series of payments must be paid into a sinking fund in order to accumulate each
Question:
What equal series of payments must be paid into a sinking fund in order to accumulate each given amount?
(a) $11,000 in 10 years at 8% compounded semiannually when payments are semiannual.
(b) $3,000 in 15 years at 6% compounded quarterly when payments are quarterly.
(c) $35,000 in five years at 7.35% compounded monthly when payments are monthly.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 60% (10 reviews)
a A 11000AF 4 2...View the full answer
Answered By
Charles mwangi
I am a postgraduate in chemistry (Industrial chemistry with management),with writing experience for more than 3 years.I have specialized in content development,questions,term papers and assignments.Majoring in chemistry,information science,management,human resource management,accounting,business law,marketing,psychology,excl expert ,education and engineering.I have tutored in other different platforms where my DNA includes three key aspects i.e,quality papers,timely and free from any academic malpractices.I frequently engage clients in each and every step to ensure quality service delivery.This is to ensure sustainability of the tutoring aspects as well as the credibility of the platform.
4.30+
2+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
What equal annual series of payments must be paid into a sinking fund in order to accumulate each of the following given amounts? (a) $18,000 in 13 years at 5% compounded annually. (b) $11,000 in...
-
Equal deposits are made into a sinking fund at the end of each year for seven years. Interest is 5.5% compounded annually, and the maturity value of the fund is $20 000. Find the size of the annual...
-
Parents have set up a sinking fund in order to have $120,000 in 15 years for their children's college education. How much should be paid semiannually into an account paying 6.8% compounded...
-
According to data released by the World Bank, the mean PM10 (particulate matter) concentration for the city of Kabul, Afghanistan, in 1999 was 46. Suppose that because of efforts to improve air...
-
A child goes down a playground slide that is inclined at an angle of 26.5 below the horizontal. Find the acceleration of the child given that the coefficient of kinetic friction between the child and...
-
During 2013, Jake Gore worked for two different employers. Until May, he worked for Wonderman Construction Company in Kansas City, Kansas, and earned $21,500. The state unemployment rate for...
-
What was colonialism and when did it happen?
-
Your client, Edgartown Corporation, prepared the following schedule of land, buildings and equipment for the audit of financial statements for the year ended December 31, 2011: a. What type of...
-
LeMay Department Store uses the retail inventory method to estimate ending inventory for its monthly financial statements. The following data pertain to one of its largest departments for the month...
-
Chen Group is in the process of adjusting and correcting its books at the end of 2019. In reviewing its records, the following information is compiled. 1. Chen has failed to accrue sales commissions...
-
What is the present worth of each of the given series of payments? (a) $1,700 at the end of each sixmonth period for 10 years at 9% compounded semiannually. (b) $9,000 at the end of each quarter for...
-
What is the future worth of each of the given series of payments? (a) $10,000 at the end of each sixmonth period for 10 years at 8% compounded semiannually. (b) $9,000 at the end of each quarter for...
-
Calculating the cost of Debt Ying Import has several bond issues outstanding, each making semiannual interest payments. The bonds are listed in the following table. If the corporate tax rate is 34...
-
During the spring semester in 2014, an ebook survey was administered to students at Winthrop University. Of the 170 students sampled, 45% indicated that they had used ebooks for their academic work....
-
The density of a certain type of jet fuel is \(775 \mathrm{~kg} / \mathrm{m}^{3}\). Determine its specific gravity and specific weight.
-
What are your revenue sources? How can you influence these revenues (what are your drivers)?
-
What are some costeffective ways for you to get started?
-
A mountain climber's oxygen tank contains \(1 \mathrm{lb}\) of oxygen when he begins his trip at sea level where the acceleration of gravity is \(32.174 \mathrm{ft} / \mathrm{s}^{2}\). What is the...
-
A plane, harmonic, linearly polarized lightwave has an electric field intensity given by while traveling in a piece of glass. Find (a) The frequency of the light. (b) Its wavelength. (c) The index of...
-
Orange juice producers are dismayed and puzzled. An economist told them that the reason the demand for orange juice fell is that a new technology allow tomato producers to pick ripe tomatoes more...
-
The present price (year 0) of kerosene is $3.20 per gallon, and its cost is expected to increase by $0.15 per year. (At the end of year 1, kerosene will cost $3.35 per gallon.) Mr. Garcia uses about...
-
Consider the following advertisement, based on one which appeared in a local paper. Pools-Spas-Hot Tubs-Pure Water Without Toxic Chemicals: The comparative costs between the conventional chemical...
-
The Geo-Star Manufacturing Company is considering a new investment in a punch-press machine that will cost $100,000 and has an annual maintenance cost of $10,000. There is also an additional...
-
Find a linear equation for the line that passes through (7,5) and (3,17)
-
Your firm has just been retained by Harley Quinn (38 years old) for a divorce and custody case. She and John Joker (42 Years Old) have been married for 10 years. She is currently residing in the...
-
Explain the difference between a "SELECT" and an "INSERT" SQL statement.
Study smarter with the SolutionInn App