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Complete the sinking fund schedule below. The rate of return is 6% compounded annually. Round the ...

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Complete the sinking fund schedule below. The rate of return is 6% compounded annually. Round the ...

Complete the sinking fund schedule below. The rate of return is 6% compounded annually. Round the periodic interest earnings to the nearest dollar.

PMT #	PMT ($) (at end)	Interest ($)	Increase in Fund ($)	Balance in Fund ($)
0	-	-	-	0
1	96,770
2	96,770	5806	102,576	199,346
3	96,770	11,961	108,731	308,077
4	96,770	18,485	115,255	423,332
5	96,770
6	96,770	32,730	129,500	675,002

Textbook

Business Mathematics in Canada

Edition: 11^th

Authors: Jerome, Worswick

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Just got PERFECT on my quiz

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