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DLee Associates Borrowed $60,000. The Company Plans To Set Up A Sinking Fund Thatwill Pay Back The Loan
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D
Lee Associates borrowed $60,000. The company plans to set up a sinking fund that
will pay back the loan at the end of 12 years. Assuming a rate of 8% compöunded
semiannually, the amount to be paid into the fund each period is):
Answers
Answer 1
Answer: $ 153698.2499
Explanation:
60000(1+0.08/2)^24=153798.2499
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