A sinking fund amounting to $19,000 is to be created by making payments at the beginning...

 

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A sinking fund amounting to $19,000 is to be created by making payments at the beginning of every 6 months for 6 years. Interest earned by the fund is 7.6% compounded semi-annually. Determine the size of the periodic payment and compute the interest earned during the fourth payment interval. Verify your answer by checking the sinking fund schedule. The size of the payment is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) Complete the table, rounding each entry to the nearest cent. (Do not include the $ symbol in your answers.) Payment Interval Increase in Payment Interval Number Fund 0 1 2 3 4 Periodic Payment (Beginning) ☐☐☐☐ Interest i = 3.8% ・□□□□ Enter your answer in each of the answer boxes. ☐☐☐ Balance at End of Payment Interval 0 ? A sinking fund amounting to $19,000 is to be created by making payments at the beginning of every 6 months for 6 years. Interest earned by the fund is 7.6% compounded semi-annually. Determine the size of the periodic payment and compute the interest earned during the fourth payment interval. Verify your answer by checking the sinking fund schedule. The size of the payment is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) Complete the table, rounding each entry to the nearest cent. (Do not include the $ symbol in your answers.) Payment Interval Increase in Payment Interval Number Fund 0 1 2 3 4 Periodic Payment (Beginning) ☐☐☐☐ Interest i = 3.8% ・□□□□ Enter your answer in each of the answer boxes. ☐☐☐ Balance at End of Payment Interval 0 ?

Answer rating: 100% (QA)

Given M Interest Semiannual Future Value FACTOR Future Value FACTOR Sinkin... View the full answer