Ask your own question, for FREE!
Mathematics 20 Online
OpenStudy (anonymous):

find the monthly payment needed to have a sinking fund accumulate a future value of $18,000. the yearly interest rate is 10.8% and the number of payments is 21. interest is compounded monthly. in your calculations, do not round until the final answer. then round the monthly payment to the nearest cent.

OpenStudy (anonymous):

18,000=(R(1+0.108/12)^21*10 - 1) / 0.108/12

Can't find your answer? Make a FREE account and ask your own questions, OR help others and earn volunteer hours!

Join our real-time social learning platform and learn together with your friends!
Can't find your answer? Make a FREE account and ask your own questions, OR help others and earn volunteer hours!

Join our real-time social learning platform and learn together with your friends!