Delaware Corporation sets up a sinking fund for getting a lump sum. It has borrowed $50,000 for the business at 8% interest. The

Question

3 years ago

7

Delaware Corporation sets up a sinking fund for getting a lump sum. It has borrowed $50,000 for the business at 8% interest. The

amount has to be repaid at the end of the fifth year. The sinking fund may earn an interest at 6% compounded monthly. What is the total amount to be invested including the interest payment?

Mathematics

1 answer:

Anna71 [15] · Answer 1 · 2022-06-18T01:00:06+03:00

Anna71 [15]3 years ago

4 0

1.3% that is the payment interest I’m pretty sure