Question: Some formulas you may or may not need: 1 = PRT D= MDT FV = PV(1 + i) FV = Pert 5x = (1+0)-2 FV

Some formulas you may or may not need: 1 = PRT D= MDT FV = PV(1 + i)" FV = Pert 5x = (1+0)-2 FV = PMTS FV = PMT Sai(1 + 1) anji = (1+0) PV = PMT ani PV = PMT ami(1+1) Question 7 12 pts Suppose Christopher took out a year loan for $30.000 at 6 compounded monthly. He will not make a payments on the loan prior to maturity. Find the quarterly sinking fund payment needed to accumulate the maturity value of the loan assuming the sinking fund earns a 45% rate. Type your full solution below. All work must be shown for full credit

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