Question: TABLE 13.3 Sinking fund table . based on $1 Period 2% 3% 4% 5% 6% 8% 10% 1 1.0000 1.0000 1.0000 1.0000 1.0000 1.0000 1.0000

TABLE 13.3 Sinking fund table . based on $1 Period 2% 3% 4% 5% 6% 8% 10% 1 1.0000 1.0000 1.0000 1.0000 1.0000 1.0000 1.0000 2 0.4951 0.4926 0.4902 0.4878 0.4854 0.4808 0.4762 3 0.3268 0.3235 0.3203 0.3172 0.3141 0.3080 0.3021 4 0.2426 0.2390 0.2355 0.2320 0.2286 0.2219 0.2155 5 0.1922 0.1884 0.1846 0.1810 0.1774 0.1705 0.1638 6 0.1585 0.1546 0.1508 0.1470 0.1434 0.1363 0.1296 0.1345 0.1305 0.1266 0.1228 0.1191 0.1121 0.1054 8 0.1165 0.1125 0.1085 0.1047 0.1010 0.0940 0.0874 9 0.1025 0.0984 0.0945 0.0907 0.0870 0.0801 0.0736 10 0.0913 0.0872 0.0833 0.0795 0.0759 0.0690 0.0627 11 0.0822 0.0781 0.0741 0.0704 0.0668 0.0601 0.0540 12 0.0746 0.0705 0.0666 0.0628 0.0593 0.0527 0.0468 13 0.0681 0.0640 0.0601 0.0565 0.0530 0.0465 0.0408 14 0.0626 0.0585 0.0547 0.0510 0.0476 0.0413 0.0357 15 0.0578 0.0538 0.0499 0.0463 0.0430 0.0368 0.0315 16 0.0537 0.0496 0.0458 0.0423 0.0390 0.0330 0.0278 17 0.0500 0.0460 0.0422 0.0387 0.0354 0.0296 0.0247 18 0.0467 0.0427 0.0390 0.0355 0.0324 0.0267 0.0219 19 0.0438 0.0398 0.0361 0.0327 0.0296 0.0241 0.0195 20 0.0412 0.0372 0.0336 0.0302 0.0272 0.0219 0.0175 24 0.0329 0.0290 0.0256 0.0225 0.0197 0.0150 0.0113 25 0.0312 0.0274 0.0240 0.0210 0.0182 0.0137 0.0102 28 0.0270 0.0233 0.0200 0.0171 0.0146 0.0105 0.0075 32 0.0226 0.0190 0.0159 0.0133 0.0110 0.0075 0.0050 36 0.0192 0.0158 0.0129 0.0104 0.0084 0.0053 0.0033 40 0.0166 0.0133 0.0105 0.0083 0.0065 0.0039 0.0023Drill Problem 13-8 (Algo) [LU 13-3 (1)] Using the sinking fund Table 13.3, complete the following: Note: Do not round intermediate calculations. Round your answer to the nearest cent. Required Frequency of Interest Payment amount amount Length of time end of each payment rate period $ 25,500 Quarterly 7 years 8

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