Harmeet wants to save $20,000 to buy a used pick-up truck in 4 years and sets...

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Harmeet wants to save $20,000 to buy a used pick-up truck in 4 years and sets up a sinking fund to make equal deposits at the end of every 6 months for the next 4 years, earning interest at 6% compounded semi- annually. Match the following: total amount deposited into the fund balance half-way through (i.e., at the 2 year mark) how much of the fund will be interest earnings amount of the semi-annual payments required Check Drag answer here Drag answer here Drag answer here Drag answer here $17,993.04 $2006.96 $4780.54 $9409.51 $2249.13 $20,000 Harmeet wants to save $20,000 to buy a used pick-up truck in 4 years and sets up a sinking fund to make equal deposits at the end of every 6 months for the next 4 years, earning interest at 6% compounded semi- annually. Match the following: total amount deposited into the fund balance half-way through (i.e., at the 2 year mark) how much of the fund will be interest earnings amount of the semi-annual payments required Check Drag answer here Drag answer here Drag answer here Drag answer here $17,993.04 $2006.96 $4780.54 $9409.51 $2249.13 $20,000

Answer rating: 100% (QA)

Heres the breakdown of your sinking fund calculations for Harmeets used pickup truck Total amount de... View the full answer