Ask a Question
Home
Take a Tour
Study Tips
Help Pages
Contact Us
Gallery
Recently Added
Videos
Search
Blogs
Dictionary
Add New Word
Random Term
Recent Changes
Resource Library
Share Your Resources
Recently Added
Search
Forum
Ask a Question
Log In
Log In
Forgot your password?
Sign Up
for all your
science
needs
Forum
Search
Advanced Search
Image Gallery
Resource Library
Topics
Unresolved Questions
Discussions
Trending
Recent Posts
Chat
Subjects
Join over
250,000
students, educators, and subject enthusiasts in our free online study community
More
Q & A Board
Entire Website
Gallery
Resource Library
Dictionary
Blogs
Search through 1.7M homework questions
Unresolved Questions
•
Discussions
•
Recent
Top Posters
Since Sunday
34
28
15
13
13
12
11
10
10
10
9
9
Post a New Question
Current Questions
Home
Q & A Board
Other Fields Homework Help
Business
Finance
Print
New Topic
Find the interest rate needed for the sinking fund to reach the required amount. Assume that the com
Catracho
Catracho
wrote...
Express Lane Plus
Posts:
351
Rep:
0
0
4 months ago
4 months ago
Find the interest rate needed for the sinking fund to reach the required amount. Assume that the com
Find the interest rate needed for the sinking fund to reach the required amount. Assume that the compounding period is the same as the payment period.
$30,000 to be accumulated in 10 years; annual payments of payments of $2458
The interest rate needed is approximately? %
(Round to two decimal places as needed.)
Read 49 times
1
Reply
Report
Related Topics
Solved
The term sinking fund is used when we know the sum we need to accumulate and must find the amount of
Solved
The journal entry to establish a bond sinking fund would include:
Solved
Interest earned on the sinking fund will be added to the Bond Sinking Fund account.
Solved
Paid the bondholders the amount due, face value plus accrued interest, using the sinking fund.Debit ...
Solved
A money market fund advertises a simple interest rate of 9%. Find the total amount received on an ...
Jeff wishes to accumulate 5,000 in 5 years. Use the appropriate formula to find the sinking fund ...
Find the amount of each payment to be made into a sinking fund which earns
Find the interest rate needed for the sinking fund to reach the required amount. Assume that the com
Load More
Replies
bio_man
wrote...
#1
Educator
4 months ago
F = final \(\rightarrow\) 30 000
P = principal \(\rightarrow\) 2 458
t = years \(\rightarrow\) 10
n = compounding periods per year \(\rightarrow\) 1 (annual)
r = interest rate
Compound interest formula: \(F=P\left(1+\frac{r}{n}\right)^{nt}\)
\(30000=2458\left(1+r\right)^{10}\)
\(\frac{30000}{2458}=\left(1+r\right)^{10}\)
\(\sqrt[10]{\frac{30000}{2458}}=1+r\)
\(\sqrt[10]{\frac{30000}{2458}}-1=r\)
\(r=0.2842\)
\(\therefore r=28.4\%\)
Report
The best way to say thank you is with a positive review:
https://trustpilot.com/review/biology-forums.com
Your support goes a long way!
▶
Make a note request here
New Topic
Quick Reply
[center][color=gray]Please [b]login or register[/b] to leave a reply[/color][/center]
Explore
Post your homework questions and get free online help from our incredible volunteers.
Why Sign Up?
Learn More
Improve Grades
Help Others
Save Time
Accessible 24/7
144 People Browsing
114 Signed Up Today
Start New Topic
Take the Tour
Study Tips
Browse by Textbook
New
Related Images
87
64
82
Your Opinion
Does a gender wage gap exist in America?
Yes
No
Not sure
Votes: 21
Previous poll results:
Do you trust social media networks with protecting your privacy?
Latest Blogs
Eyeless fish
Animal longevity correlated to these genes
A case for why teenagers make risky decisions
Top 5 Interesting Math Facts You Never Knew
Imperial and metric system facts lost in history
Ready to ask a question on
Biology Forums
?
Try it out
▸
Using Figure 1.1, match the following cavities:Cranial cavity.
–
Anatomy and Physiology
Column family databases may use columns, super columns, column families, and super column families.
–
Computer Studies
Data can be entered into an ArangoDB collection of documents by all of the following ways except ________.
–
Computer Studies
[Free] - Chapter 04 - Womble: Introductory Mental Health Nursing 2nd Edition
–
Free Notes
The query language provided by ArangoDB is called ArangoDB Query Language.
–
Computer Studies
Data can be created in the ArangoDB by using the Upload button.
–
Computer Studies
Chapter 9: Basic Pharmacology for Nurses, 16th Edition Test bank
–
Free Notes
The main mechanism for data distribution in ArangoDB is called shading.
–
Computer Studies
In a column family database, the unit of data that most closely corresponds to a relation is the ________.
–
Computer Studies
Part C - Gamete formation in the F1 of polygenic crosses
–
Genetics and Developmental Biology
Loading...