A company estimates that it will need $113,000 in 14 years to replace a computer. If it establishes a sinking fund by making fixed monthly payments into an account paying 6.0%
compounded monthly, how much should each payment be?

Question

03-12-2022
Mathematics

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A company estimates that it will need $113,000 in 14 years to replace a computer. If it establishes a sinking fund by making fixed monthly payments into an account paying 6.0%
compounded monthly, how much should each payment be?

Sagot :

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