For the sinking funds, use Table 12-1 from your text to calculate the amount of the periodic payments needed to amount to the financial objective (future value of the annuity), rounding to the nearest cent: $$\begin{array} { l l l l l l }
\text { Sinking Fund } & \text { Payment } & \text { Time } & \text { Nominal } & \text { Interest } & \text { Future Value } \
\text { Payment } & \text { Frequency } & \text { Period } & \text { Rate } & \text { Compounded } & \text { (Objective) } \
&\text { every } 3 \text { months } & 1 \frac{1}{2} & 16 \%& \text { quarterly } &\$ 2,500
\end{array}$$

Question

For the sinking funds, use Table 12-1 from your text to calculate the amount of the periodic payments needed to amount to the financial objective (future value of the annuity), rounding to the nearest cent: $$\begin{array} { l l l l l l } 
\text { Sinking Fund } & \text { Payment } & \text { Time } & \text { Nominal } & \text { Interest } & \text { Future Value } \
\text { Payment } & \text { Frequency } & \text { Period } & \text { Rate } & \text { Compounded } & \text { (Objective) } \
&\text { every } 3 \text { months }  & 1 \frac{1}{2}  & 16 \%& \text { quarterly }  &\$ 2,500 
\end{array}$$

Quizplus · Accepted Answer

The Answer of For the sinking funds, use Table 12-1 from your text to calculate the amount of the periodic payments needed to amount to the financial objective (future value of the annuity), rounding to the nearest cent: $$\begin{array} { l l l l l l } 
\text { Sinking Fund } & \text { Payment } & \text { Time } & \text { Nominal } & \text { Interest } & \text { Future Value } \
\text { Payment } & \text { Frequency } & \text { Period } & \text { Rate } & \text { Compounded } & \text { (Objective) } \
&\text { every } 3 \text { months }  & 1 \frac{1}{2}  & 16 \%& \text { quarterly }  &\$ 2,500 
\end{array}$$

For the Sinking Funds, Use Table 12-1 from Your Text