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Find the Amount of Each Payment Needed to Accumulate the Indicated

Question 43

Multiple Choice

Find the amount of each payment needed to accumulate the indicated amount in a sinking fund. Round to the nearest
cent. Find the amount of each payment needed to accumulate the indicated amount in a sinking fund. Round to the nearest cent. -$9,000, money earns 8% compounded quarterly, 5 years A) $749.61 B) $1,534.14 C) $1,661.67 D) $370.44
-$9,000, money earns 8% compounded quarterly, 5 years


A) $749.61
B) $1,534.14
C) $1,661.67
D) $370.44

Correct Answer:

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