## Practical Business Math Procedures

Business

## Quiz 13 :

Annuities and Sinking Funds

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Q36 Q36 Q36

Jones Co. borrowed money that is to be repaid in 12 years. So that the loan will be paid back at end of the 12

^{th}year, the company invests $8,000 at end of each year at 5% compounded annually. The amount of the original loan was (use the tables in the handbook):Free

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Q38 Q38 Q38

Lee Associates borrowed $60,000. The company plans to set up a sinking fund that will pay back the loan at the end of 12 years. Assuming a rate of 8% compounded semiannually, the amount to be paid into the fund each period is (use the tables in the handbook):

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