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The total annual payments will be level at 3300 until a

A loan of $32,000 is to be repaid by the sinking fund method with annual payments. Interest on the loan is paid at a 6% annual effective rate of interest, and the sinking fund earns 4% annual effective interest. The total annual payments will be level at $3,300 until a final smaller annual payment suffices to pay off the loan. Find the amount of the final sinking fund deposit.

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Finance Basics: The total annual payments will be level at 3300 until a

Reference No:- TGS0628647

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Recent Questions Asked Finance Basics

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Finance Basics: The total annual payments will be level at 3300 until a

Reference No:- TGS0628647

Recent Questions Asked Finance Basics

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