felicity0040 felicity0040

03-01-2023
Mathematics

Answered

Delaware Corporation sets up a sinking fund for getting a lump sum. It has
borrowed $50,000 for the business. The amount has to be repaid at the end of the
fifth year. The sinking fund may earn an interest at 6% compounded monthly. How
much money has to be put in the sinking fund monthly?

Answer :

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