Find the amount accumulated FV in the sinking fund. HINT [See Example 1.] (Assume end-of-period...
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Find the amount accumulated FV in the sinking fund. HINT [See Example 1.] (Assume end-of-period deposits and compounding at the same intervals as deposits. Round your answer to the nearest cent.)
$550 is deposited monthly for 16 years at 6% per year
FV = $
Find the periodic payments PMT necessary to accumulate the amount given in a sinking fund. HINT [See Example 2.] (Assume end-of-period deposits and compounding at the same intervals as deposits. Round your answer to the nearest cent.)
$30,000 in a fund paying 7% per year, with monthly payments for 5 years
PMT = $
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