A sinking fund is being accumulated at j₁₂ = 6% by deposits of $200 per month to repay the loan of $10,000.If the book value of debt is 4605.31 just after the k^th deposit,what is the book value of debt just after the (k+1)^st deposit?

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The book value of debt just after the (k+1)^st deposit is $4378.34.The sinking fund is being accumulated at j₁₂ = 6% by deposits of $200 per month to repay the loan of $10,000.The book value of debt just after the k^th deposit is $4605.31.The interest earned on the sinking fund during the k^th month is $4605.31 * 6% / 12 = $23.03.The deposit made during the k^th month is $200.The book value of debt just after the (k+1)^st deposit is $4605.31 - $23.03 + $200 = $4378.34.

A Sinking Fund Is Being Accumulated at J12 = 6

A Sinking Fund Is Being Accumulated at J₁₂ = 6