Use the sinking fund formula to determine the payment needed to reach the accumulated amount. Round the answer to
the nearest cent.
-Quarterly payments with 7.3% interest compounded quarterly for 5 years to accumulate $85,000
A) $424.72
B) $3559.70
C) $1413.02
D) $393.99

Question

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The Answer of Use the sinking fund formula to determine the payment needed to reach the accumulated amount. Round the answer to
the nearest cent.
-Quarterly payments with 7.3% interest compounded quarterly for 5 years to accumulate $85,000
A) $424.72
B) $3559.70
C) $1413.02
D) $393.99

Use the Sinking Fund Formula to Determine the Payment Needed