21. the following ordinary annuity, the interest is compoundedwith each payment, and the payment is made at the end of thecompounding period.
Find the required payment for the sinking fund. (Round your answerto the nearest cent.)
Monthly deposits earning 4% to accumulate $3000 after 10years.
22. the following ordinary annuity, the interest is compoundedwith each payment, and the payment is made at the end of thecompounding period.
Find the required payment for the sinking fund. (Round your answerto the nearest cent.)
Yearly deposits earning 12.9% to accumulate $2500 after 12years.
