What periodic deposit to a sinking fund paying 5 interest, Finance Basics

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What periodic deposit to a sinking fund paying 5 interest

Question: a) What periodic deposit to a sinking fund paying 5% interest, compounded monthly, will amount to $25,000 in 16 years?

b) State the effective rate of a money market 6.5% monthly. State the effective rate of a CD 6.7% quarterly. Based on the above answers, which is a better investment?

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Finance Basics: What periodic deposit to a sinking fund paying 5 interest

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