What is the amount of interest earned in the 33rd semi-annual deposit interval of a sinking fund that is set up to pay back a debt of $220000 over 19 years? The fund earns 4.62% compounded semi-annually and the deposits are made semi-annually.
A) $3690.27
B) $3990.27
C) $3660.27
D) $3960.27
E) $3760.27
Correct Answer:
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