Zachary Alexander owns a limousine that will need to be replaced in four years at a cost

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Zachary Alexander owns a limousine that will need to be replaced in four years at a cost of $65,000. How much must he put aside each year in a sinking fund at 8% annual interest to purchase the new limousine?

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Business Math

ISBN: 978-0133011203

10th edition

Authors: Cheryl Cleaves, Margie Hobbs, Jeffrey Noble

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Question Posted: Mar 11, 2016 01:56 AM

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Zachary Alexander owns a limousine that will need to be replaced in four years at a cost

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Business Math

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