Register

Find the amount of payment into a sinking fund. Amount Needed: $57,000 Years Until Needed: 3 Interest Rate: 6% Interest Compounded: Semiannually

Find the amount of payment into a sinking fund. Amount Needed: $57,000 Years Until Needed: 3 Interest Rate: 6% Interest Compounded: Semiannually
asked 175k views
4 votes
Find the amount of payment into a sinking fund.

Amount Needed: $57,000

Years Until Needed: 3

Interest Rate: 6%

Interest Compounded: Semiannually

asked
User Azzy
by
8.1k points

1 Answer

6 votes
57000=X [((1-0.06/2)^(2*3)-1)/(0.06/2)]
Solve for x
X=8812.06
answered
User Abe Voelker
by
8.1k points
← Prev Question Next Question →

Related questions

Ask a Question
Welcome to Qamnty — a place to ask, share, and grow together. Join our community and get real answers from real people.

Categories

Other Questions

How do you can you solve this problem 37 + y = 87; y =
What is .725 as a fraction
A bathtub is being filled with water. After 3 minutes 4/5 of the tub is full. Assuming the rate is constant, how much longer will it take to fill the tub?
Link Copied!