Find the amount of each payment into a sinking fund if $14,000 must be accumulated. Payments are made at the end of each quarter for 3 years, with interest of 6% compounded quarterly Round to the nearest cent

Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
ChapterM: Time Value Of Money Module
Section: Chapter Questions
Problem 13P: Present Value of an Annuity Ralph Benke wants to make 8 equal semiannual withdrawals of 8,000 from a...
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Find the amount of each payment into a sinking fund if $14,000 must be accumulated Payments are made at the end of each quarter for 3 years, with interest of 6% compounded quarterly Round to the nearest
cent
Click here to view part 1 of the Sinking Fund table.
Click here to view part 2 of the Sinking Fund table.
OA. $829.92
OB. $4,597 32
OC. $1,180.06
OD. $1,073.52
Transcribed Image Text:K Find the amount of each payment into a sinking fund if $14,000 must be accumulated Payments are made at the end of each quarter for 3 years, with interest of 6% compounded quarterly Round to the nearest cent Click here to view part 1 of the Sinking Fund table. Click here to view part 2 of the Sinking Fund table. OA. $829.92 OB. $4,597 32 OC. $1,180.06 OD. $1,073.52
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