Question: For Question 3, calculate the increase in the fund for the fourth year. Verify your answer by checking the sinking fund schedule. In Question 3

For Question 3, calculate the increase in the fund for the fourth year. Verify your answer by checking the sinking fund schedule.
In Question 3
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 value of the fund is $20 000. Find the size of the annual deposits and construct a sinking fund schedule showing totals.

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PMT 241929 i 55 n 3 2419293168025 766437 Interest in Year 4 766... View full answer

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