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A. Your bank pays 8% interest, compounded quarterly. Use Table 12-2 from your text to...

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Accounting

A. Your bank pays 8% interest, compounded quarterly. Use Table 12-2 from your text to find how much you should deposit now to yield an annuity payment of $1,300 at the BEGINNING of each three months, for 2 years.

a. $9,523.13

b. $9,713.59

c. $8,413.59

d. $10,823.13

B.Mechanics Hardware needs to accumulate $41,000 in 3 years to purchase new equipment. What sinking fund payment would they need to make at the END of each month, at 6% interest compounded monthly? (Use Table 12-1 from your text)

a. $1,399.56

b. $1,885.21

c. $2,111.35

d. $1,042.30

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