2 years ago

I don't know what I did wrong. I tried it twice but it said it was wrong

Mathematics

1 answer:

Dafna1 [17]2 years ago

5 0

Answer:

I used Desmos. Heres a picture of what its supposed to look like.

Step-by-step explanation:

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100 ?
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2 years ago

Find the interest rate needed for the sinking fund to reach the required amount. Assume that the compounding period is the same

Maslowich

Answer:

so rate is 4.72 %

Step-by-step explanation:

Given data

time (t) = 5 year = 5×4 = 20 quarterly

amount = $27456

principal = $1225

to find out

interest rate (r)

solution

we use here amount formula that is

amount = principal ( $(1+r)^{t}$ -1 ) / r .....................1

put all value principal , amount and time in equation 1 and we get rate

rate is r/4 because it is quarterly payment

amount = principal ( $(1+r/4)^{t}$ -1 ) / r/4

27456 = 1225 ( $(1+r/4)^{20}$ -1 ) / r/4

( $(1+r/4)^{20}$ -1 ) / r/4 = 27456/ 1225

( $(1+r)^{20}$ -1 ) / r = 27456/ (1225 × 4)

( $(1+r)^{20}$ -1 ) = r 27456/ (1225 × 4)

now by the tvm solver and amount $27456

graph value

we get r = 0.0472

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3 years ago

Read 2 more answers

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Answer:

Step-by-step explanation:

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