For Question 3, calculate the increase in the fund for the fourth year. Verify your answer by

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
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. Maturity
Maturity is the date on which the life of a transaction or financial instrument ends, after which it must either be renewed, or it will cease to exist. The term is commonly used for deposits, foreign exchange spot, and forward transactions, interest...