Biology Forums - Study Force

Jeff wishes to accumulate 5,000 in 5 years. Use the appropriate formula to find the sinking fund payment she would need to make at the end of each year, at 5 interest, compounded annually.
 A) 989.94
  B) 917.47
  C) 904.87
  D) 949.87

Q. 2

Second Hand Software needs to accumulate 12,000 in 3 years to meet future needs. What sinking fund payment would they need to make at the end of each year, at 6 interest compounded annually? (Use Table 12-1 from your text)
 A) 4,110.34
  B) 3,769.32
  C) 4,392.65
  D) 4,634.15

Q. 3

What amortization payment would you need to make every month, at 12 interest compounded monthly, to pay off a loan of 8,500 in 3 years? (Use Table 12-2 from your text)
 A) 3,538.97
  B) 282.32
  C) 197.32
  D) 279.53

Q. 4

Linens Plus wishes to pay off a debt of 15,000 in 2 years. What amortization payment would they need to make every month, at 12 interest compounded monthly? (Use Table 12-2 from your text)
 A) 625.00
  B) 664.81
  C) 684.10
  D) 706.10

Ans. #1

C

Ans. #2

B

Ans. #3

B

Ans. #4

D

Thank you soooo very much, it was really helpful and kind of you to answer my q's

You're welcome, once again