Question: How can I find the amount needed into a sinking fund? The amount needed is 260,000 Years until needed 6 Interest Rate is 6% annually

How can I find the amount needed into a sinking fund?

The amount needed is 260,000

Years until needed 6

Interest Rate is 6% annually

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!

Q:

How do I find the amount needed into a sinking fund with the following numbers? Amount needed $15,200 years until need 2 interest rate 12% monthly

Q:

1. Find the future value of an annuity of $1400 paid at the end of each year for 15 years, if interest is earned at a rate of 6%, compounded annually. (Round your answer to the nearest cent.) $= 2....

Q:

please write answer clear [0/1 Points] DETAILS PREVIOUS ANSWERS HARMATHAP12 6.3.005. MY NOTES ASK YOUR TEACHER PRACTICE ANOTHER Find the future value of an annuity of $1600 paid at the end of each...

Q:

After reviewing the entire case, cast yourself in the role of Richard McManus. Make a financing recommendation to Sharon Light in a memo . Be sure to discuss the financial implications of each...

Q:

A debt of $10 000 will be amortized by payments at the end of each quarter of a year for 10 years. Interest is at j4 = 10%. Determine the outstanding balance at the end of 6 years. The Steins buy a...

Q:

The memo is not needed. But help with calculations would really help. Chapter 3 CASE 3-1 Lightpoint, Inc. is a computer software company that seeks debt financing in order to support its growth...

Q:

D) . A worker aged 40 wishes to accumulate a fund for retirement by depositing $3000 at the beginning of each year for 25 years. Starting at age 65 the worker plans to make 15 annual equal...

Q:

The present value of the insurance benefits that could provide $40,000 over the next 15 years for the Sampson family. Assume that the insurance payment could be invested to earn 6% interest over...

Q:

1. Determine the present value of the insurance benefits that could provide $40,000 over the next 15 years for the Sampson family. Assume that the insurance payment could be invested to earn 6...

Q:

1. Find the interest rate on a loan charging $1292 simple interest on a principal of $4750 after 8 years. % 2. Find the term of a loan of $200 at 4.5% if the simple interest is $36. 3. Determine the...

Q:

Two cylinders are connected by a rope that passes over two fixed rods as shown. Knowing that the coefficient of static friction between the rope and the rods is 0.40, determine the range of values of...

Q:

How does the magnitude of the strain and strain rate values of metal cutting compare to tensile testing?

Q:

3, 5 Mary receives tangible personal property as a gift. The property was depreciated by the donor, and Mary will also depreciate it. At the date of the gift, the property was worth more than the...

Q:

The force constant of a massless spring is 2 5 . 0 N / m . A mass of 0 . 4 5 kg is oscillating in simple harmonic motion at the end of the spring

Q:

The Emerson Division of Golding Company produces small kitchen appliances. The com pany uses a standard cost system for production costing and control. The standard cost sheet for its most popular...

Q:

The Bartlesville plant of Iverson Company produces an industrial chemical. At the beginning of the year, the Bartlesville plant had the following standard cost sheet: The Bartlesville plant computes...

Q:

Marvel Company uses a standard cost system. During the past quarter, the following variances were computed: Marvel applies variable overhead using a standard rate of $2 per direct labor hour allowed....