State the type and answer the question. What annual deposit is necessary to have $15,000 in 5 years if all the money is deposited at 13% interest compounded annually?
A) Sinking fund; $2,303.83
B) Amortization; $2,314.72
C) Present value; $2,320.72
D) Sinking fund; $2,314.72
E) Future value; $2,325.61

Question

State the type and answer the question. What annual deposit is necessary to have $15,000 in 5 years if all the money is deposited at 13% interest compounded annually? ​
A) Sinking fund; $2,303.83
B) Amortization; $2,314.72
C) Present value; $2,320.72
D) Sinking fund; $2,314.72
E) Future value; $2,325.61

Quizplus · Accepted Answer

The Answer is D

State the Type and Answer the Question