Solve the following, using interest rate at 7% compounded annually: a) What is the amount that will be accumulated in a sinking fund at the end of the 15th year if $200 is deposited in the fund at the beginning of ea
Solve the following, using interest rate at 7% compounded annually: a) What is the amount that will be accumulated in a sinking fund at the end of the 15th year if $200 is deposited in the fund at the beginning of ea
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Solve the following, using interest rate at 7% compounded annually:
a) What is the amount that will be accumulated in a sinking fund at the end of the 15th year if $200 is deposited in the fund at the beginning of each of the 15 years?
b) What uniform annual payment for 30 years is equivalent to spending $10,000 immediately, $11,000 at the end of 10 years, $12,000 at the end of 20 years, and $2,000 a year for 30 years?
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