repeat problem 29 with the change that the sinking fund payments are to be made at t 4373610

Repeat Problem 29, with the change that the sinking fund payments are to be made at the end of every quarter. In Problem 29 A sinking fund is to be set up to provide for the repayment of 80% of the principal amount of a $1 million debt in 10 years. Equal payments are to be made at the beginning of each quarter. The sinking fund will earn 7% compounded quarterly. Round the sinking fund payments and periodic interest earnings to the nearest dollar. a. Calculate the size of the sinking fund payments. b. Construct a partial sinking fund schedule showing details of the first two and the last two payments, and the total of the interest earned. View Solution:
Repeat Problem 29 with the change that the sinking fund

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