A business must raise $41,000 in 7 years. What should be the size of the owners' quarterly payment to a sinking fund paying 4% compounded quarterly?

Please round the answer to the nearest cent.

$ __________

Question

A business must raise $41,000 in 7 years. What should be the size of the owners' quarterly payment to a sinking fund paying 4% compounded quarterly?
​
Please round the answer to the nearest cent.
​
$ __________

Quizplus · Accepted Answer

The Answer of A business must raise $41,000 in 7 years. What should be the size of the owners' quarterly payment to a sinking fund paying 4% compounded quarterly?
​
Please round the answer to the nearest cent.
​
$ __________

A Business Must Raise $41,000 in 7 Years