A sinking fund of $100 000 is to be created by equal annual payments at the beginning of each year for 12 years.Interest earned by the fund is 5.5% compounded annually.
a)Compute the annual deposit into the fund.
b)Construct a sinking fund schedule showing totals.

Question

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The Answer of A sinking fund of $100 000 is to be created by equal annual payments at the beginning of each year for 12 years.Interest earned by the fund is 5.5% compounded annually.
a)Compute the annual deposit into the fund.
b)Construct a sinking fund schedule showing totals.

A Sinking Fund of $100 000 Is to Be Created