A business needs $450,000 in five years. How much should be deposited each quarter in a sinking fund that earns 9% compounded quarterly to have this amount in five years
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A business needs $450,000 in five years. How much should be deposited each quarter in a sinking fund that earns 9% compounded quarterly to have this amount in five years
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- How much must be invested now to receive $50,000 for 8 years if the first $50,000 is received in one year and the rate is 10%?A business must raise $57,000 in five years. What should be the size of the owners quarterly payment to a sinking fund paying 8% compounded quarterly?A business needs ₱1,550,000 in eight years. How much should be deposited each quarter in a sinking fund that earns 9 3/4% compounded quarterly to have this amount in eight years?
- A business must raise $70,000 in 8 years. What should be the size of the owners' quarterly payment to a sinking fund paying 4% compounded quarterly? (Round your answer to the nearest cent.)$A business must raise $70,000 in 5 years. What should be the size of the owners' quarterly payment to a sinking fund paying 3% compounded quarterly? (Round your answer to the nearest cent.) $ Need Help? Read ItA business sets up a sinking fund so they will have a $49,000.00 to pay for a replacement piece of equipment in 7 years when the current equipment will be sold for scrap. If they make deposits at the end of each month for 7 years in the investment that pays 7.4% compounded monthly, what size should each payment be?
- business must raise $50,000 in 9 years. What should the size of the owners’ quarterly payments to a sinking fund paying 2% interest compounded quarterly.Your company estimates it will have to replace a piece of equipment at a cost of P5,800,000 in 5 years. To do this a sinking fund is established by making equal monthly payments at the beginning of each month into an account paying 6.6% compounded monthly. How much should each payment be?Drexter's Shop wants to start a fund to accumulate half of the expected P600,000 cost of expanding their facilities in 8 years. What semiannually account must be paid into the fund earning 6% compounded quarterly in order to reach the target?
- An investor pays $275,000 for a mine that will produce level annual revenue for 18 years. What should the level annual revenue be (received at the end of each year) if the investor is to receive 4% annual return on the investment while recovering the principal in a sinking fund earning 2.5% per year?A firm needs to replace most of its machinery in 4 years at a cost of $590,000. The company wishes to create a sinking fund to have this money available in 4 years. How much should the monthly deposits be if the fund earns 5% compounded monthly?A company has a $170,000 note due in 5 years. How much should be deposited at the end of each quarter in a sinking fund to pay off the note in 5 years if the interest rate is 9% compounded quarterly?