Problem:
A company wishes to set up a sinking fund in an account that pays 4.3% interest compounded quarterly to repay a debt of $325,000 within 4 years explain to the company how much its payment should be pay off its debt along with how much interest will be accrued during 4 years ?
An organization has a $50,000 loan that is to be amortized over 10 years create an amortization schedule for a loan at 7.5% interest compounded monthly and if the company wanted to pay the loan off in 5 years?