Turnberry Manufacturing has determined that it will need $450,000 in 9 years for a new roof on its southeastern regional warehouse. A sinking fund is established for the roof at 2.5% compounded semiannually. What equal payments are required every 6 months to accumulate the needed funds for the roof? 

Answer rating: 100% (QA)

future Value y50000 time period 9x2 18 Interest rate O025 O0... View the full answer