(3.4b)

Can someone please help me with this problem?

Attached is an example to help.

Question 1 1 pts Ellen borrows $12,675 for 13 years at a 6% effective annual rate. She pays interest yearly and will repay the principal by making 13 annual payments into a sinking fund. The first interest and sinking fund payments will be made at the end of the first year. Ellen's sinking fund payments will start at $975 and will decrease by $75 each year. The final payment will include an additional amount. The sinking fund will earn interest at a 4% effective annual rate for the first 7 years and will earn interest at a 5% effective annual rate after the first 7 years. Determine the total amount of Ellen's final sinking fund payment. [6.c #08] D) E) At least $2,600, but less than $2,700 At least $2,700, but less than $2,800 Ellen borrows $38,400 for 16 years at a 6% effective annual rate. She pays interest yearly and will repay the principal by making 16 annual payments into a sinking fund. The first interest and sinking fund payments will be made at the end of the first year. Ellen's sinking fund payments will start at $2400 and will decrease by $150 each year. The final payment will include an additional amount. The sinking fund will earn interest at a 4% effective annual rate for the first 8 years and will earn interest at a 5% effective annual rate after the first 8 years. Determine the total amount of Ellen's final sinking fund payment. [6.e #08] A) At least $2,800, but less than $2,900 B) At least $2,400, but less than $2,500 c) At least $2,500, but less than $2,600 4 % - 7 SF HE 475 900 825 - 525 5% ... 12 - 150 13 75 4 AV = 12675 At least $5,800, but less than $5,900 [475 5944-75 Soccom ]cn.os3a +75(0slasy + x = 12,67 8062.73 + 1857.94 + x = 12.675 At least $6,000, but less than $6,100 At least $5.900, but less than $6,000 X = 2754.28 At least $6,100, but less than $6,200 At least $5,700, but less than $5,800 X+75 - 2829.28)