Question

A sinking fund is established with quarterly deposits of $120 at an interest rate j4= 7.9%....

A sinking fund is established with quarterly deposits of $120 at an interest rate j4= 7.9%. If the balance immediately after the nth deposit is $10133, what was the balance immediately after the (n−1)th deposit?

Business   Finance   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
A sinking fund is established to discharge a debt of $50,000 in 25 years. If deposits...
A sinking fund is established to discharge a debt of $50,000 in 25 years. If deposits are made at the end of each 6-month period and interest is paid at the rate of 6%, compounded semiannually, what is the amount of each deposit?
A fund of $24000 is to be accumulated by n quarterly payments of $2800 where the...
A fund of $24000 is to be accumulated by n quarterly payments of $2800 where the nth payment is a larger payment which brings the fund to $24000. If interest is at j4= 9%, determine n and the final irregular payment.
You plan to make quarterly deposits into a fund that pays an interest rate of 9%...
You plan to make quarterly deposits into a fund that pays an interest rate of 9% per year. Interest will be compounded quarterly. If you invest $4,000 each quarter for 8 years what is the amount of money you will have at the end of the 8 years?
Kirk, Klein & Co. requires $104,000 fifteen years from now to retire a debt. A sinking...
Kirk, Klein & Co. requires $104,000 fifteen years from now to retire a debt. A sinking fund is established into which equal payments are made at the end of every 3 months. Interest is 10 % compounded quarterly. (a) What is the size of the quarterly payment? (b) What is the balance in the sinking fund after two years? (c) How much interest will be earned by the fund in the 20th payment interval? (d) By how much will the...
To provide for expansion, a company has established a sinking fund earning 8 % monthly. The...
To provide for expansion, a company has established a sinking fund earning 8 % monthly. The fund is anticipated to reach a balance of $72,000 in 13 years. Payments are made at the beginning of every month.month. (a) What is the size of the periodic payment? (b) What is the accumulated balance at the end of payment period 107?
A $10,000 loan can be repaid quarterly for 5 years using amortization and an interest rate...
A $10,000 loan can be repaid quarterly for 5 years using amortization and an interest rate of j12 = 10% or by a sinking fund to repay both principal and accumulated interest. If paid by a sinking fund, the interest on the loan will be j12 = 9%: What annual efective rate must the sinking fund earn to make the quarterly cost the same for both methods?
Find the amount accumulated FV in the sinking fund. HINT [See Example 1.] (Assume end-of-period deposits...
Find the amount accumulated FV in the sinking fund. HINT [See Example 1.] (Assume end-of-period deposits and compounding at the same intervals as deposits. Round your answer to the nearest cent.) $400 is deposited monthly for 10 years at 2% per year in an account containing $6,000 at the start FV = $ Find the periodic payments PMT necessary to accumulate the amount given in a sinking fund. HINT [See Example 2.] (Assume end-of-period deposits and compounding at the same...
Prince deposits P10 000 into a fund today and deposits P20 000 into the same fund...
Prince deposits P10 000 into a fund today and deposits P20 000 into the same fund fifteen years later. Interest is credited at a nominal discount rate of d compounded quarterly for the first 10 years, and at a nominal interest rate of 6% compounded semiannually thereafter. The accumulated balance in the fund at the end of 30 years is P100 000. a) By first drawing a sketch diagram, write down in terms of d the accumulated value of the...
1. Allright Corporation started making sinking fund deposits of $20,000 today. Its bank pays 5% compounded...
1. Allright Corporation started making sinking fund deposits of $20,000 today. Its bank pays 5% compounded semi-annually and the deposits will be made at the beginning of every six months for 20 years. What will the fund be worth at the end of that time? a. $1,381,752 b. $1,567,980 c. $1,425,658 d. $1,623,876 2. Given a 30-year mortgage loan of $100,000, monthly pay in arrrears, fully amortizing with an annual interest rate of 5%, what is the balance of the...
to day is 1/7/2020 3month until 1/1/2026 amor deposit 450 in  ALQuds Bank. at j4 6%. Start...
to day is 1/7/2020 3month until 1/1/2026 amor deposit 450 in  ALQuds Bank. at j4 6%. Start from 1/4/2028 Amor makes quarterly withdrawal of $600. what is the balance in his account after the withdrawal of jun 30, 2030 a) Solve the questcom assume the rate J4: 6% B) Re solve the problem assuming the rate is J4: 8%. from 1/7/2020 unit 1/1/2024
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT