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Complete the sinking fund schedule below. The rate of return is 5.75% compounded semiannually. Round ...

zbuild007

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Complete the sinking fund schedule below. The rate of return is 5.75% compounded semiannually. Round ...

Complete the sinking fund schedule below. The rate of return is 5.75% compounded semiannually. Round the periodic interest earnings to the nearest dollar.

PMT #	PMT ($) (at beg)	Interest ($)	Increase in Fund ($)	Balance in Fund ($)
0	-	-	-	0
1	60,390
2	60,390	3522	63,912	126,038
3	60,390	5360	65,750	191,788
4	60,390	7250	67,640	259,428
5	60,390
6	60,390	11,195	71,585	400,598
7	60,390	13,253	73,643	474,241
8	60,390	15,371	75,761	550,002

Textbook

Business Mathematics in Canada

Business Mathematics in Canada

Edition: 11^th

Authors: Jerome, Worswick

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