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OpenStudy (anonymous):
Use the sinking fund formula to determine the payment needed to reach the accumulated amount. Round the answer to the nearest cent. Annual payments with 5% interest compounded annually for 8 years to accumulate $6000 A. $736.92 B. $544.14 C. $628.33 D. $203.05
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OpenStudy (anonymous):
i guess you need the sinking fund formula. do you have it?
OpenStudy (anonymous):
no
OpenStudy (anonymous):
sinking fund formula?
OpenStudy (anonymous):
Found a site that explain this formula http://www.property-investing.org/sinking-fund.html manie this is all yours!
OpenStudy (anonymous):
thanks
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