Find the required payment for the sinking, Financial Management

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Find the required payment for the sinking

1. In the following ordinary annuity, the interest is compounded with each payment, and the payment is made at the end of the compounding period.

Find the required payment for the sinking fund. (Round your answer to the nearest cent.)

Yearly deposits earning 12.2% to accumulate $9500 after 12 years.

2. In the following ordinary annuity, the interest is compounded with each payment, and the payment is made at the end of the compounding period.

Find the required payment for the sinking fund. (Round your answer to the nearest cent.)

Monthly deposits earning 5% to accumulate $3000 after 10 years.

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Financial Management: Find the required payment for the sinking

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Financial Management: Find the required payment for the sinking

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