Solved: Size of the quarterly payments into the fund, Finance Basics

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Size of the quarterly payments into the fund

Question: Bill borrows $1000 at 5% compounded annually. He is able to establish a sinking fund to pay off the debt and interest in 7 years. The sinking fund will earn 8% compounded quarterly. What should be the size of the quarterly payments into the fund?

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Finance Basics: Size of the quarterly payments into the fund

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Finance Basics: Size of the quarterly payments into the fund

Reference No:- TGS02040197

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