Clearlake Optical has a $50,000 note that comes due in 6 years. The owners wish to create

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Clearlake Optical has a $50,000 note that comes due in 6 years. The owners wish to create a sinking fund to pay this note. If the fund earns 2.5% compounded semiannually, how much must each semiannual deposit be?

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Business Math

ISBN: 978-0133011203

10th edition

Authors: Cheryl Cleaves, Margie Hobbs, Jeffrey Noble

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Posted Date: May 23, 2022 02:45 AM

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Clearlake Optical has a $50,000 note that comes due in 6 years. The owners wish to create

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Expert Answer:

Semiannual deposit can be calculated using following formul... View the full answer

Business Math

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