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D Lee Associates borrowed $60,000. The company plans to set up a sinking fund that will pay back the loan at the end of 12 years. Assuming a rate of 8% compöunded semiannually, …

D Lee Associates borrowed $60,000. The company plans to set up a sinking fund that will pay back the loan at the end of 12 years. Assuming a rate of 8% compöunded semiannually, …
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12 votes
D

Lee Associates borrowed $60,000. The company plans to set up a sinking fund that
will pay back the loan at the end of 12 years. Assuming a rate of 8% compöunded
semiannually, the amount to be paid into the fund each period is):

asked
User Cuh
by
8.3k points

1 Answer

8 votes

Answer: $ 153698.2499

Step-by-step explanation:

60000(1+0.08/2)^24=153798.2499

answered
User Syv
by
8.2k points
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