A local retail franchise must buy a new piece of equipment in 6 years that will cost

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A local retail franchise must buy a new piece of equipment in 6 years that will cost $89,000. The company is setting up a sinking fund to finance the purchase. What will the quarterly deposit be if the fund earns 12% interest, compounded quarterly?

Related Book For answer-question

Principles of Finance

ISBN: 978-1285429649

6th edition

Authors: Scott Besley, Eugene F. Brigham

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Posted Date: Oct 25, 2020 12:02 PM

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A local retail franchise must buy a new piece of equipment in 6 years that will cost

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Principles of Finance

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