Copernicus borrows l and repays the principal by making ten


Copernicus borrows $L and repays the principal by making ten annual payments at the end of the year into a sinking fund which earns an annual effective rate of 8%. The interest earned on the sinking fund in the third year is $85.57. Determine L

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Financial Management: Copernicus borrows l and repays the principal by making ten
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