Question: please help Find the interest rate needed for the sinking fund to reach the required amount. Assume that the compounding period is the same as
Find the interest rate needed for the sinking fund to reach the required amount. Assume that the compounding period is the same as the payment period. $100,000 to be accumulated in 15 years, quarterly payments of $1200. Round to the nearest hundredth
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
