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Find the Amount of Each Payment Needed to Accumulate the Indicated

Question 42

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. -$8,900, money earns 12% compounded monthly, 3 years A) $18.33 B) $2,937.18 C) $2,637.52 D) $206.57
-$8,900, money earns 12% compounded monthly, 3 years


A) $18.33
B) $2,937.18
C) $2,637.52
D) $206.57

Correct Answer:

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