A local Dunkin Donuts franchise must buy a new piece ofequipment in 5 years that will cost
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Question:
A local Dunkin’ Donuts franchise must buy a new piece ofequipment in 5 years that will cost $88,000. The company is settingup a sinking fund to finance the purchase. What will the quarterlydeposit be if the fund earns 8% interest? (Do notround intermediate calculations. Round youranswer to the nearest cent.) |
| Quarterlydeposit | $ |
Expert Answer:
To calculate the quarterly deposit for the sinking fund we can follow these steps Deter... View the full answer
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