Find the amount of each payment to be made into a sinking fund so that enough will be present to accumulate the following amount. Payments are made at the end of each period. The interest rate given is per period.
-$6000; money earns $4 \%$ compounded annually; 9 annual payments
A) $\$ 651.17$
B) $\$ 168.62$
C) $\$ 499.75$
D) $\$ 566.96$

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The Answer of Find the amount of each payment to be made into a sinking fund so that enough will be present to accumulate the following amount. Payments are made at the end of each period. The interest rate given is per period.
-$6000; money earns $4 \%$ compounded annually; 9 annual payments
A) $\$ 651.17$
B) $\$ 168.62$
C) $\$ 499.75$
D) $\$ 566.96$

Find the Amount of Each Payment to Be Made into a Sinking